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

31 March 2017
165 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

Longest Balkan railway tunnel opens in Greece (VIDEO)
GREECE
shares85 views
GREECE
shares85 views

Longest Balkan railway tunnel opens in Greece (VIDEO)

makis - Feb 20, 2018

The longest tunnel in Greece and the Balkans was finally opened to rail traffic this week after years of construction.…

Turkey renews the NAVTEX that blocks the drillings in the Cypriot EEZ!
GREECE
shares67 views
GREECE
shares67 views

Turkey renews the NAVTEX that blocks the drillings in the Cypriot EEZ!

makis - Feb 20, 2018

The illegal NAVTEX in the sea area of Block 3 in the Cypriot EEZ has been renewed by the Turkish…

Is Italian ENI drilling ship abandoning Cyprus after Turkish aggression?
GREECE
shares93 views
GREECE
shares93 views

Is Italian ENI drilling ship abandoning Cyprus after Turkish aggression?

makis - Feb 20, 2018

The SAIPEM 12000 drilling ship from Italian energy company ENI is preparing to depart the “Supa” target in sea block…

Leave a Comment

Your email address will not be published.