ATHENS, March 31 Piraeus Bank turned
loss-making in the fourth quarter after booking higher
provisions for impaired loans, Greece's largest lender by assets
said on Friday.
Piraeus, which is 26.2 percent owned by the country's bank
rescue fund HFSF, reported a net loss of 18 million euros
($19.2 million) after net profit of 31 million euros in the
For 2016 as a whole, Piraeus reported a net loss of 4.0
million euros after a loss of 1.85 billion in 2015.
The group, with a current market value of 1.53 billion
euros, said bad debt provisions rose to 310 million euros in
October-to-December from 242 million in the third quarter.
Non-performing credit dropped to 37.7 percent of its loan
book at the end of December from 38.8 percent in the previous
(Reporting by George Georgiopoulos and Lefteris Papadimas)