Eurobank grows first quarter profit as loan-loss provisions drop
Reuters
Published May 29, 2020 15:51
ATHENS (Reuters) - Greece's third-largest lender Eurobank (AT:EURBr) on Thursday reported higher first quarter net profit compared to same period a year earlier on the back of lower provisions for impaired loans and higher fee and commission income.
Eurobank, which is 2.4 percent owned by the country's HFSF bank rescue fund, reported net earnings of 57 million euros, up from 22 million euros in last year's first quarter.
Credit loss provisions dropped 23.4% year-on-year to 126 million euros. Non-performing exposures (NPEs) eased to 28.9% of its loan book from 29.2% at the end of December.
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Written By: Reuters
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