NBG’s Q4 profit helped by lower bad debt provisions
Greece’s second largest lender by assets National Bank was profitable for a second straight quarter in October-December, helped by lower bad debt provisions.
NBG, 40 percent owned by the country’s bank rescue fund HFSF, on Thursday reported a net profit of 73 million euros, excluding assets held for sale and discontinued operations, versus net earnings of 6 million euros in Q3.
For 2016 as a whole, the bank posted a net profit of 53 million euros after a loss of 2.49 billion in 2015.
Nonperforming credit eased to 32.9 percent of its loan book in Q4 from 34.3 percent in end-September.
NBG said loan impairments for the full year dropped to 684 million euros from 3.52 billion in 2015.
[Reuters]
