BUSINESS

NBG swings into black in Q3

TAGS: Banking

National Bank, Greece’s second-largest by assets and 40 percent owned by the country’s HFSF bank rescue fund, on Thursday reported a net profit from continued operations of 17 million euros in the third quarter, versus a net loss of 15 million euros in the second quarter.

NBG had booked a 40-million-euro charge for a voluntary retirement scheme in the second quarter, which weighed on its bottom line.

National’s nonperforming exposures ratio, which includes nonperforming loans and other credit likely to turn bad, edged down to 42 percent from 42.1 percent in June.

[Reuters]

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