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5 months ago
Greece's National Bank profitable in Q4, bad debt charges drop
March 30, 2017 / 3:07 PM / 5 months ago

Greece's National Bank profitable in Q4, bad debt charges drop

ATHENS, March 30 (Reuters) - Greece's second largest lender by assets National Bank (NBG) was profitable for a second straight quarter in October-to-December, helped by lower bad debt provisions.

NBG, 40 percent owned by the country's bank rescue fund HFSF, reported on Thursday a net profit of 73 million euros ($78.4 million), excluding assets held for sale and discontinued operations, versus net earnings of 6 million euros in the third quarter.

For 2016 as a whole, the bank posted a net profit of 53 million euros after a loss of 2.49 billion in 2015.

Non-performing credit eased to 32.9 percent of its loan book in the fourth quarter from 34.3 percent at the end of September.

NBG said loan impairments for the full year dropped to 684 million euros from 3.52 billion in 2015. ($1 = 0.9315 euros) (Reporting by George Georgiopoulos)

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