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Greece's Alpha Bank grows profit in Q1 as bad debt charges decline
May 31, 2017 / 2:33 PM / 2 months ago

Greece's Alpha Bank grows profit in Q1 as bad debt charges decline

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ATHENS, May 31 (Reuters) - Alpha Bank, Greece's fourth-largest lender by assets, was profitable in January-to-March for a third straight quarter as provisions for impaired loans declined.

Alpha, 11 percent owned by the country's bank rescue fund HFSF, reported net profit of 48.1 million euros ($54.05 million), up from net earnings of 20.1 million in the fourth quarter and broadly in line with expectations.

The bank's non-performing loans ratio was steady at 38.1 percent of its book at end-March.

Provisions for bad debt fell 19 percent quarter-on-quarter to 247 million euros from 304 million in the fourth quarter. ($1 = 0.8900 euros) (Reporting by George Georgiopoulos)

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