November 22, 2018 / 3:55 PM / 19 days ago

Greece's Eurobank Q3 profit rises on higher fee revenues

ATHENS, Nov 22 (Reuters) - Greece’s third-largest lender Eurobank on Thursday reported a sharp net profit rise in July-September compared to the second quarter, on higher fee income and operating revenues.

Eurobank, which is 2.4 percent owned by the country’s HFSF bank rescue fund, reported net earnings of 45 million euros ($51.30 million) from continued operations, compared to a profit of 1.0 million euros in the second quarter.

Accounting for discontinued operations, the bank reported a net profit of 59 million euros compared to net earnings of 55 million euros in the second quarter.

Credit loss provisions rose quarter-on-quarter to 176 million euros from 169 million in the first quarter. Non-performing exposures (NPEs) dropped 39.0 percent of its book from 40.7 percent at the end of June. ($1 = 0.8773 euros) (Reporting by Athens newsroom)

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