Alpha Bank 9M net drops 39.3% y/y, in line with fcasts

ATHENS, Nov 9 (Reuters) - Alpha Bank (ACBr.AT: Quote, Profile, Research), Greece's third-largest lender, on Monday reported a 39.3 percent year-on-year drop in nine-month net profit to 344.7 million euros ($515 million) on slower loan growth and higher provisions.

Net earnings were broadly in line with market expectations. Analysts polled by Reuters were forecasting net profit of 335 million euros on average, with estimates ranging from 321 to 349 million euros.

The bank, also present in Bulgaria, Romania, Cyprus, Serbia and Albania, reported net earnings of 130 million euros in the third quarter, compared to profit of 129 million in the second quarter.

Net interest income in the nine-month period slipped 4.3 percent to 1.304 billion euros. (Reporting by George Georgiopoulos)