March 28, 2013 / 3:36 PM / in 5 years

Greece's Piraeus Bank posts 2012 loss on provisions

ATHENS, March 28 (Reuters) - Greece’s second-largest lender Piraeus Bank on Thursday reported a full-year 2012 loss of 513 million euros compared to a loss of 6.6 billion a year earlier, hurt by provisions for impaired loans and higher funding costs.

Piraeus, which took over the healthy part of state ATEbank and French lender Societe Generale’s Greek unit Geniki last year, bought the Greek branches of Cypriot lenders Bank of Cyprus, Cyprus Popular and Hellenic Bank earlier this week.

Results were not directly comparable to 2011 as Piraeus included the good part of ATEbank and Geniki in its latest results.

The bank said total impairment charges reached 2.5 billion euros, of which 2.04 billion related to loans. (Reporting by George Georgiopoulos)

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