ECONOMY

Greece’s Alpha Bank pares losses in 2012

Greece’s third-largest lender Alpha Bank posted a smaller loss in 2012 compared to a year earlier, hurt by provisions for bad loans and weak interest income amid the country’s severe debt crisis and deep recession.

Alpha on Wednesday reported a loss of 1.086 billion euros last year compared to a loss of 3.81 billion euros in 2011, which included a big hit from a sovereign debt write-down.

It said provisions for impaired loans rose 47.6 percent to 1.669 billion euros.

[Reuters]