BUSINESS

Eurobank grows 2019 profit, loan-loss provisions ease

TAGS: Banking

Greece’s third-largest lender Eurobank on Thursday reported higher full-year 2019 net profit compared to a year earlier as provisions for impaired loans eased.

Eurobank, which is 2.4 percent owned by the country’s HFSF bank rescue fund, reported net earnings of 127 million euros ($140.86 million), up 36.2 percent from 93 million euros in 2018.

Credit loss provisions dropped 8.3 percent year-on-year to 624 million euros. Non-performing exposures (NPEs) dropped to 29.2 percent of its loan book from 31.1 percent at the end of September. 

[Reuters]

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