BUSINESS

Piraeus profits grow in third quarter

TAGS: Banking

Piraeus Bank on Friday reported stronger profits in July-to-September compared to the second quarter, helped by higher fee and commission income and lower operating costs.

Greece’s largest lender by assets, which is 26.2 percent owned by the country’s HFSF bank rescue fund, reported net profit from continued operations of 94 million euros after net earnings of 24 million in the second quarter.

The group said provisions for impaired loans were flat at 149 million euros.

[Reuters]

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