Piraeus Bank, the domestic subsidiary of one of the biggestGreek financial groups, in the fourth quarter of 2009 maintainedalmost unchanged its loan and deposit portfolios, as well as itsterritorial network. The loan volume in December stood at 1.81bneuros, similar with the September level, according to the dataPiraeus presented in Athens. Compared with the end of 2008, thevolume is 7% lower, though. Out of the total loans, 59% went to thecorporate sector, 10% are home equity loans and 24% are consumerloans. Portfolio quality deteriorated further, with the weight ofbad loans climbing to 5.8% of the total in December, namely 105meuros, compared with 4.9% in September and 2.4% the previousDecember. Bad loan provisioning rose to 86% from 78% in September.Deposits also stagnated in the fourth quarter, at 1.1bn euros. Thelevel is 21% above that of December 2008. The territorial networkmaintained at 186 branches and the number of employees at 1,972.Domestically, Piraeus Group did not report any data on its 2009financial results and the bank's representatives did not provideadditional explanations about business trends.
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