Greek bank Piraeus reports Q2 profit of 164 mln euros

Greece’s second-largest lender by assets, Piraeus Bank, reported a profit in the second quarter as lower funding costs boosted its net interest income.

Piraeus yesterday posted a profit of 164 million euros.

Analysts polled by Reuters expected the bank to report a loss of 133 million euros on average.

The bank said net interest income rose 4 percent from the first quarter to 500 million euros.