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Greece's Alpha Bank posts first-quarter profit on Emporiki goodwill
May 10, 2013 / 7:16 AM / 4 years ago

Greece's Alpha Bank posts first-quarter profit on Emporiki goodwill

ATHENS (Reuters) - Greece’s third-largest lender Alpha Bank (ACBr.AT) on Friday posted net first quarter profit of 2.88 billion euros ($3.75 billion), booking goodwill on its acquisition of Emporiki Bank from Credit Agricole (CAGR.PA).

A woman makes a transaction at the automated teller machine (ATM) as another begs outside an Alpha bank branch in central Athens November 29, 2012. REUTERS/John Kolesidis

Excluding the one-off goodwill inclusion, the bank’s profit came to 244 million euros from a loss of 82.5 million in the same period in 2012.

Alpha said provisions for loan impairments rose to 505 million euros.

Reporting by George Georgiopoulos

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