March 12, 2018 / 3:49 PM / 2 months ago

Greece's Eurobank posts lower Q4 profit as loan-loss provisions rise

ATHENS, March 12 (Reuters) - Eurobank’s net profit fell in October-to-December compared to the third quarter as provisions for impaired loans rose, Greece’s third-largest lender by assets said on Monday.

Eurobank, which is 2.4 percent owned by the country’s HFSF bank rescue fund, reported net earnings of 53 million euros ($65.29 million) before discontinued operations after profit of 61 million euros in the third quarter.

Accounting for discontinued operations, the bank reported a net profit of 43 million euros after a 15.3 million euro loss in the third quarter.

Credit loss provisions rose quarter-on-quarter to 206 million euros from 178 million in the third quarter. Non-performing loans dropped slightly to 33.4 percent of its book from 35.2 percent at the end of 2016. ($1 = 0.8118 euros) (Reporting by George Georgiopoulos)

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