Greek lender National Bank (NBG) posted flat results for Q2 2017 this week, with trading losses failing to offset a reduction in bad debt provisions. The second largest Greek bank, based on assets, NBG reported a net loss of 52 million euros, up from a net loss of eight million euros in the first three months of the year.
Greek lender National Bank (NBG) posted flat results for Q2 2017 this week, with trading losses failing to offset a reduction in bad debt provisions. The second largest Greek bank, based on assets, NBG reported a net loss of 52 million euros, up from a net loss of eight million euros in the first three months of the year.
The Hellenic Financial Stability Fund (HFSF) bank rescue fund owns 40-percent of NBG.
Another Greek lender, Alpha Bank, reported net profits of 1.4 million euros, sharply down from 48.1 million euros in Q1 2017. Alpha is fourth amongst Greece's four systemic banks in terms of size, when judged by assets. HFSF owns an 11-percent chunk of Alpha Bank's shares.
Conversely, Piraeus Bank posted net profits of seven million euros during the same quarter, equal to the Q1 losses of seven million euros.
Piraeus Bank - the biggest Greek bank, in terms of assets - reversed its first-quarter (Q1) net losses of 7 million to profit of 7 million in Q2, resulting in a break-even bottom-line result in the first half (H1) of 2017.
Finally, Eurobank reported that net profits rose 8.8 percent to 40 million euros, compared to the first quarter. The development marks the sixth straight quarterly profit for the Greek lender.