BUSINESS

Greece's Eurobank posts 301-mln-euro loss in Q2

Greece’s third-largest lender by assets, Eurobank, reported a 301-million-euro loss in the second quarter as loan-loss provisions continued to weigh on its bottom line.

Analysts polled by Reuters were expecting the bank to post a loss of 238 million euros on average.

Eurobank, 35.4 percent-owned by Greece’s HFSF bank rescue fund, said credit loss provisions rose to 455 million euros in the second quarter from 419 million in the same period a year earlier.

Nonperforming loans rose to 31.8 percent of its loan book from 30.9 percent in the first quarter of 2014.

[Reuters]

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