National Bank reports 269 mln euros profit in Q3
National Bank on Monday announced repeated net earnings of 269 million euros in the third quarter of 2015.
In Greece, pre-provision profits totaled 140 million euros in the July-September period, down 10.4 pct compared with the previous quarter, net interest revenues grew 2.6 pct on a quarterly basis, while net interest margin grew by 17 basis points to 266 bps. Payroll spending fell 2.3 pct in the third quarter.
In Turkey, Finansbank continued its upward course for another quarter. Pre-provision profits grew 6.8 pct on a quarterly basis to 525 million Turkish lira, reflecting an 8.4 pct increase in net interest revenue and a 2.4 pct cut of spending on a quarterly basis.
National Bank said profits from its activities in Southeast Europe totaled 16 million euros in the third quarter, from 6.0 million in the second quarter.
Group deposits were almost unchanged at 55.8 billion euros in the third quarter, after a 7.8 pct decline in the previous quarter. Deposits in Greece grew by 300 million euros, while in Turkey deposits grew by 10.8 pct on a quarterly basis and deposits in other countries rose 1.0 pct.
National Bank enjoys the best loan/deposit ratio at 94 pct in Greece and 103 pct in Group level. Borrowing from the Eurosystem fell to 25.6 billion euros at the end of September (ELA: 15.6 billion) from 27.6 billion at the end of June (ELA: 17.6 billion).
Pre-provision group profits totaled 345 million euros negatively affected by the imposition of capital controls in Greece and a further depreciation of the Turkish lira in the third quarter.
New loans in delay of more than 90 days totaled 495 million euros in the third quarter, from 133 million in the second quarter.
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