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Greece's Alpha Bank narrows first quarter loss, provisions weigh
May 28, 2015 / 2:27 PM / 2 years ago

Greece's Alpha Bank narrows first quarter loss, provisions weigh

ATHENS, May 28 (Reuters) - Alpha Bank, Greece’s fourth-largest lender by assets, on Thursday reported a narrower loss in the first quarter compared to last year’s final quarter with provisions for impaired loans continuing to hurt its bottom line.

Alpha, about 66 percent owned by the country’s bank rescue fund HFSF, posted a net loss of 115.8 million euros ($126 million) versus a loss of 440.2 million euros in the fourth quarter.

Alpha’s non-performing credit rose to 33.8 percent of its loan book at end-March from 33 percent at end-December.

Provisions for bad debt dropped 45 percent quarter-on-quarter to 426.3 million euros from 772 million in the last quarter of 2014.

The bank said funding from the Greek central bank’s emergency liquidity window stood at 20.6 billion euros in May. (1 US dollar = 0.9165 euro) (Reporting by George Georgiopoulos)

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