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1Q2013 Financial Results

5 June 2013.

1Q2013 Financial Results

1Q2013 Financial Results
  • Eurobank’s immediate and full recapitalization of €5.8bn by the Hellenic Financial Stability Fund restores the Bank’s capital position. Pro-forma EBA core tier I ratio stands at 9.5%.1
  • Deposits in Greece increase by €1.5bn in 1Q2013 and Eurosystem funding drops to €21.3bn, from €34bn in 1H2012. Loans to deposits ratio improves to 132%.
  • Total bad debt provisions recede by 5% versus 4Q2012 to a 4 quarters low of €418m.
  • Cost reduction accelerates to 9%yoy. The cumulative reduction in costs since 2008 will approach 30% at the end of the year.
  • Net profit from international operations rises to €12m, the best performance in the last 6 quarters. Bad debt provisions decrease to the lowest level since the onset of the crisis in Eastern Europe.
  • Net profit after tax at €375m including one-off gains.
“Following its recapitalization, Eurobank is now embarking on a new phase, coinciding with a series of
encouraging developments in the Greek economy. These relate to the significant progress registered on the
fiscal-adjustment front and in the area of structural reforms, leading to a visible improvement in market
sentiment towards Greece.

In the first quarter of 2013, Eurobank recorded positive trends in a number of key indicators, the most
important of which were the decline in provisions for bad debts, the continuous rise in retail deposits and the
return to profitability in its international operations.

With an enhanced capital base, and in its capacity as systemic banking pillar, Eurobank can henceforth play
a leading role in the strategic restructuring of Greek banking currently under way. At the same time, it aims to
achieve a swift return to the markets, raising capital from the private sector. Furthermore, capitalizing on its
high-quality human resources and strong ties with its clients, the Bank maintains its focus on financing the
economy via innovative initiatives aimed to bolstering the healthy, outward-looking and internationallycompetitive companies, which represent the key to the country’s exit from the crisis.”

Nicholas Nanopoulos - CEO

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