Eurobank posts 913-mln-euro loss in Q4 of 2013

Greece’s third-largest lender by assets Eurobank lost 913 million euros in the last quarter of 2013, hurt by provisions for bad loans and one-off costs.

Eurobank, 95 percent-owned by Greece’s HFSF bank rescue fund, said the full-year loss came to 1.15 billion euros, down from 1.45 billion in 2012.

Provisions for bad debt rose to 660 million euros in the fourth quarter, from 420 million in the previous three-month period as nonperforming loans rose to 29.4 percent of its book from 27.7 percent in the third quarter.


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