BANKING

National Bank outperforms in last quarter of 2021

National Bank outperforms in last quarter of 2021

National Bank of Greece (NBG), the country’s second-largest lender by market value, on Wednesday reported higher net profit in October-to-December compared to the third quarter of 2021, on the back of lower loan impairment provisions.

NBG, 40% owned by the country’s HFSF bank rescue fund, said net earnings from continued operations reached 120 million euros from €91 million in the third quarter.

Provisions for impaired loans dropped 25% quarter-on-quarter to €49 million in the fourth quarter with its nonperforming exposures down to 7% of its loan book from 11.9% at the end of September, closer to the 6% target by end-2022. [Reuters]