ATHENS, March 28 (Reuters) - Greece’s largest lender Piraeus Bank turned profitable in October-to-December despite higher loan-loss provisions, improving its ratio of non-performing loans, it said on Wednesday.
Piraeus, which is 26.2 percent owned by the country’s bank rescue fund HFSF, reported a net profit from continued operations of 12 million euros ($14.8 million) after a net loss of 17 million euros in the third quarter.
The group said bad debt provisions rose to 1.18 billion euros from 312 million in the third quarter.
Non-performing loans eased to 35 percent of its book at the end of December from 36.2 percent in the previous quarter. ($1 = 0.8100 euros) (Reporting by George Georgiopoulos)