Greece's National Bank Q1 profit rises, beats estimates

ATHENS Wed May 28, 2014 10:40am EDT

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ATHENS May 28 (Reuters) - National Bank (NBG), Greece's largest lender by assets, reported its sixth consecutive quarterly profit in January-March, helped by lower funding costs, its Turkish unit Finansbank and reduced bad-loan provisions as the pace of new credit impairments slowed.

NBG posted net profit of 181 million euros ($246 million), above market expectations. Analysts polled by Reuters were forecasting net earnings of 24 million euros on average.

The bank said loan-loss provisions fell 15 percent year-on-year in the first quarter to 362 million euros. ($1 = 0.7345 Euros) (Reporting by George Georgiopoulos)

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