NBG, Alpha report 2nd straight profitable quarter; both return to profitability in 2016 after massive losses in 2015

31 March 2017
116 Views

Both National Bank (NBG) and Alpha Bank, the second and fourth largest lenders in the country based on assets, reported a second straight profitable quarter in Q4 2016.

NBG reported net profits of 73 million euros, significantly up from net earnings of 6 million euros in Q3 2016.
Lower bad debt provisions helped boost NBG’s profits.

Overall, Greece’s oldest credit institution said net profits reached 53 million euros on the year, overturning a 2.49-billion-euro loss in 2015.

Meanwhile, Αlpha reported net profits of 20.1 million euros in the fourth quarter, a result that was down from 41.2 million euros in the third quarter.

Overall in 2016, the bank returned to profitability, posting net profits of 42.3 million euros after losses of 1.37 billion euros in 2015.

Provisions for bad debt rose 18 percent quarter-on-quarter to 304 million euros from 258 million in the third quarter.

You may be interested

Metsovo: Lakes, Ski Resorts and Bears
GREECE
shares48 views
GREECE
shares48 views

Metsovo: Lakes, Ski Resorts and Bears

Panos - Nov 22, 2017

Metsovo is a renowned mountainside town straddling the Pindus mountain range where Epirus converges with western Macedonia and Thessaly. Standing…

Tourists in Greece exceed 23.5 million over first nine months
GREECE
shares48 views
GREECE
shares48 views

Tourists in Greece exceed 23.5 million over first nine months

Panos - Nov 22, 2017

According to the Bank of Greece (BoG), there was a 10.3% increase in the tourism revenue for the first nine…

Mitsotakis Interview: Over-taxation in Greece is Surreal
FINANCE
shares52 views
FINANCE
shares52 views

Mitsotakis Interview: Over-taxation in Greece is Surreal

Panos - Nov 22, 2017

Main opposition leader Kyriakos Mitsotakis is in Strasbourg, where he had meetings with leaders of the European People’s Party (EPP),…

Leave a Comment

Your email address will not be published.