ATHENS May 29 Greece's fourth-largest lender by
assets Alpha Bank was loss-making in the first quarter
as provisions for impaired loans weighed on its bottom line,
offsetting a year-on-year improvement in net interest income.
Alpha posted a loss of 94.1 million euros ($128 million), at
the low end of market expectations. Analysts polled by Reuters
had forecast a loss of 107.6 million euros on average.
The bank said loan-loss provisions fell 22 percent
year-on-year to 395 million euros with non-performing credit
rising to 33.3 percent of its loan book, from 32.7 percent in
the last quarter of 2013.
Net interest income rose 44 percent year-on-year to 471.3
million, helped by lower funding costs.
(Reporting by George Georgiopoulos)