NBG’s Q4 profit helped by lower bad debt provisions

NBG’s Q4 profit helped by lower bad debt provisions

Greece’s second largest lender by assets National Bank was profitable for a second straight quarter in October-December, helped by lower bad debt provisions.

NBG, 40 percent owned by the country’s bank rescue fund HFSF, on Thursday reported a net profit of 73 million euros, excluding assets held for sale and discontinued operations, versus net earnings of 6 million euros in Q3.

For 2016 as a whole, the bank posted a net profit of 53 million euros after a loss of 2.49 billion in 2015.

Nonperforming credit eased to 32.9 percent of its loan book in Q4 from 34.3 percent in end-September.

NBG said loan impairments for the full year dropped to 684 million euros from 3.52 billion in 2015.


Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.