November 21, 2019 / 3:45 PM / 23 days ago

Eurobank grows Q3 profit as loan-loss provisions fall

ATHENS, Nov 21 (Reuters) - Greece’s third-largest lender Eurobank reported higher net profit in the third quarter compared to April-to-June as provisions for impaired loans fell.

Eurobank, which is 2.4 percent owned by the country’s HFSF bank rescue fund, reported net earnings of 56 million euros ($61.96 million) from continued operations, compared to a profit of 6.0 million euros in the second quarter.

Credit loss provisions fell 21% quarter-on-quarter to 145 million euros. Non-performing exposures (NPEs) dropped to 31.1% of its loan book from 32.8% at the end of June. ($1 = 0.9038 euros) (Reporting by George Georgiopoulos)

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