ATHENS (Reuters) - Greece’s third-largest lender Eurobank (EURBr.AT) reported lower net profit in the second quarter compared to January-to-March as provisions for impaired loans rose.
Eurobank, which is 2.4 percent owned by the country’s HFSF bank rescue fund, reported net earnings of 6.0 million euros ($6.69 million) from continued operations, compared to a profit of 20 million euros in the first quarter.
Credit loss provisions rose 11.3% quarter-on-quarter to 183 million euros. Non-performing exposures (NPEs) dropped to 32.8% of its loan book from 36.7% at the end of March.
Reporting by George Georgiopoulos