March 28, 2019 / 3:27 PM / 7 months ago

Alpha Bank swings to Q4 loss on lower trading gains, higher provisions

ATHENS, March 28 (Reuters) - Alpha Bank was loss-making in October-to-December on weaker trading gains compared to the third quarter and higher credit-loss provisions, Greece’s fourth-largest lender by assets said on Thursday.

Alpha, 11 percent owned by the country’s bank rescue fund HFSF, reported a net loss from continuing operations of 0.4 million euros ($449,040.00) after a net profit of 41.1 million euros in the third quarter.

The bank’s non-performing loans ratio dropped to 33.5 percent of its book from 34.1 percent at the end of September.

Provisions for bad debt rose to 669 million euros from 296 million euros in the third quarter. ($1 = 0.8908 euros) (Reporting by George Georgiopoulos)

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