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Greece's National Bank swings to loss in Q2
August 31, 2017 / 2:59 PM / 3 months ago

Greece's National Bank swings to loss in Q2

ATHENS, Aug 31 (Reuters) - Greece’s second largest lender by assets National Bank (NBG) turned loss-making in April-to-June as trading losses offset a decline in bad debt provisions.

NBG, 40 percent owned by the country’s bank rescue fund HFSF, on Thursday reported a net loss from continued operations of 52 million euros versus net loss of 8.0 million euros in the first quarter.

NBG said loan impairments fell 14 percent to 200 million euros while its stock of non-performing exposures (NPEs) shrank by 300 million euros quarter-on-quarter. Its NPE ratio settled at 45 percent. (Reporting by George Georgiopoulos)

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