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Greece's Eurobank Q4 profit shrinks, loan-loss provisions decline
March 29, 2017 / 2:40 PM / 9 months ago

Greece's Eurobank Q4 profit shrinks, loan-loss provisions decline

ATHENS, March 29 (Reuters) - Eurobank’s net profit shrank in October-to-December compared to the third quarter despite a slight drop in provisions for impaired loans, Greece’s third-largest lender by assets said on Wednesday.

Eurobank, which is 2.4 percent owned by the country’s HFSF bank rescue fund, reported net earnings of 38.3 million euros ($41.2 million) after profit of 85.4 million euros in the third quarter.

The bank reported net profit of 230.1 million euros for 2016 as a whole after losses of 1.18 billion in 2015.

Credit loss provisions fell 2.4 percent quarter-on-quarter to 186.4 million euros from 191 million in the third quarter. Non-performing loans dropped slightly to 34.7 percent of its book from 34.8 percent at the end of September.

$1 = 0.9299 euros Reporting by George Georgiopoulos

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