BUSINESS

Eurobank to post profitable Q1, CEO says

Eurobank, Greece's third-largest lender, was profitable in the first quarter of the year, its Chief Executive Fokion Karavias told Reuters on Thursday.

The bank will release first-quarter results on May 19. Its net profit stood at 38.3 million euros in the fourth quarter last year.

"We had a profitable first quarter," Karavias said on the sidelines of an EBRD conference in Cyprus.

Asked about capital controls that have been in place since June 2015, he said he expects a further gradual easing this year and in 2018 before restrictions are fully lifted. [Reuters]

Online