Al­pha posts net profit in 2016 de­spite Q4 slow­down

Kathimerini English - - Focus -

Al­pha Bank, Greece’s fourth largest lender by as­sets, was prof­itable in Oc­to­ber-De­cem­ber for a se­cond straight quar­ter as im­proved net in­ter­est in­come off­set higher pro­vi­sions for im­paired loans. Al­pha, 11 per­cent owned by the coun­try’s bank res­cue fund HFSF, re­ported a net profit of 20.1 mil­lion eu­ros, down from net earn­ings of 41.2 mil­lion in the third quar­ter. For 2016 as a whole, the bank re­turned to prof­itabil­ity, post­ing net profit of 42.3 mil­lion eu­ros af­ter a loss of 1.37 bil­lion in 2015. The bank’s non­per­form­ing loans ra­tio eased to 38.1 per­cent of its book at end-De­cem­ber from 38.3 per­cent at end-Septem­ber. Pro­vi­sions for bad debt rose 18 per­cent quar­ter-on-quar­ter to 304 mil­lion eu­ros from

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