ECONOMY

Piraeus profits increased in Q4

piraeus-profits-increased-in-q4

Piraeus Bank grew profit in last year’s final quarter as net interest income rose, Greece’s largest lender by assets said on Friday.

Piraeus Bank, which is 26.2 percent owned by the country’s HFSF bank rescue fund, reported a net profit from continued operations of 145 million euros after net earnings of 94 million in the third quarter.

The bank’s nonperforming exposures (NPE) ratio came down to 53.1 percent at the end of the fourth quarter from 56 percent a year earlier.

[Reuters]