March 7, 2019 / 3:56 PM / 18 days ago

Eurobank reports lower 2018 profit from continued operations

ATHENS, March 7 (Reuters) - Greece’s third-largest lender Eurobank on Thursday reported lower full-year 2018 net profit as operating income declined.

Eurobank, which is 2.4 percent owned by the country’s HFSF bank rescue fund, reported net earnings of 91 million euros ($102.25 million) from continued operations, compared to a profit of 104 million euros in 2017.

Accounting for discontinued operations, the bank reported a net profit of 200 million euros compared to net earnings of 185 million euros a year earlier.

Credit loss provisions fell 9.3 percent to 680 million euros from 750 million in 2017. Non-performing exposures (NPEs) dropped to 37 percent of its book in the last quarter of 2018 from 39 percent at the end of September. ($1 = 0.8900 euros) (Reporting by George Georgiopoulos)

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