ATHENS, May 31 (Reuters) - Alpha Bank, Greece’s fourth-largest lender by assets, was profitable in January-to-March for a third straight quarter as provisions for impaired loans declined.
Alpha, 11 percent owned by the country’s bank rescue fund HFSF, reported net profit of 48.1 million euros ($54.05 million), up from net earnings of 20.1 million in the fourth quarter and broadly in line with expectations.
The bank’s non-performing loans ratio was steady at 38.1 percent of its book at end-March.
Provisions for bad debt fell 19 percent quarter-on-quarter to 247 million euros from 304 million in the fourth quarter. ($1 = 0.8900 euros) (Reporting by George Georgiopoulos)