August 30, 2018 / 3:06 PM / 2 months ago

Greek lender Eurobank second-quarter profit falls, loan-loss provisions edge up

ATHENS (Reuters) - Greece’s third-largest lender Eurobank (EURBr.AT) on Thursday reported a sharp net profit plunge in April-to-June compared to the first quarter on flat core income and a slight increase in provisions for impaired loans.

Eurobank, which is 2.4 percent owned by the country’s HFSF bank rescue fund, reported net earnings of 1.0 million euros (898,332.44 pounds) from continued operations after profit of 35 million euros in the first quarter.

Accounting for discontinued operations, the bank reported a net profit of 55 million euros after net earnings of 57 million in the first quarter.

Credit loss provisions rose quarter-on-quarter to 169 million euros from 167 million in the first quarter. Non-performing exposures (NPEs) dropped to 40.7 percent of its book from 41.8 percent at the end of March.

Reporting by George Georgiopoulos and Stratos Karakasidis

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