August 30, 2018 / 2:25 PM / 2 months ago

Greece's Alpha Bank swings to loss in Q2 as trading income weakens

ATHENS, Aug 30 (Reuters) - Alpha Bank turned loss-making in April-to-June after weaker trading gains compared to the first quarter, 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 loss from continuing operations of 52.9 million euros ($61.7 million) after a net profit of 65.2 million euros in the first quarter.

The bank’s non-performing loans ratio edged higher to 35.6 percent of its book from 35.2 percent at the end of March.

Provisions for bad debt eased 6.6 percent quarter-on-quarter to 314 million euros from 336 million euros in the first quarter. The bank booked additional impairment losses of 43 million euros related to losses on restructuring of sour loans. (Reporting by George Georgiopoulos and Lefteris Papadimas)

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