November 29, 2018 / 4:23 PM / 15 days ago

Alpha Bank swings to Q3 profit on stronger trading gains, lower provisions

ATHENS, Nov 29 (Reuters) - Alpha Bank turned profitable in July-to-September on stronger trading gains compared to the second quarter, and lower credit-loss provisions, Greece’s fourth-largest lender by assets said on Thursday.

Alpha, 11 percent owned by the country’s bank rescue fund HFSF, reported a net profit from continuing operations of 41.1 million euros ($46.83 million) after a net loss of 52.9 million euros in the second quarter.

The bank’s non-performing loans ratio dropped to 34.1 percent of its book from 35.6 percent at the end of June.

Provisions for bad debt eased 6 percent quarter-on-quarter to 295 million euros from 314 million euros in the second quarter. ($1 = 0.8777 euros) (Reporting by George Georgiopoulos)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below