May 31, 2018 / 3:10 PM / 5 months ago

Greece's NBG posts profits in Q1, lower provisions helps

ATHENS, May 31 (Reuters) - Greece’s National Bank (NBG) turned profitable in January-to-March helped by lower provisions for bad loans, Greece’s second-largest lender by assets said on Thursday.

NBG, 40 percent owned by the country’s bank rescue fund HFSF, reported a net profit from continued operations of 20 million euros ($23.35 million) versus a net loss of 60 million euros in the fourth quarter.

NBG said loan impairments fell 40 percent quarter-on-quarter to 120 million euros. Its ratio of non-performing exposures (NPEs), which includes non-performing loans (NPLs) and other credit likely to turn bad, edged lower to 42.7 percent from 43.7 percent in December 2017. ($1 = 0.8567 euros) (Reporting by George Georgiopoulos and Lefteris Papadimas)

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