National Bank posts losses of 159 mln in Q1 2015

EconomyBanking Tags: Banking, NBG
Photo by MacroPolis
Photo by MacroPolis

National Bank (NBG) posted net losses of 159 million euros in the first quarter (Q1) of 2015 from 1.11 billion in Q4 2014, which were entirely due to one-offs.

Excluding the extraordinary items, the Q4 bottom line showed losses of 16 million euros, implying a deteriorating performance in Q1. This is mainly attributed to higher quarter on quarter (QoQ) impairment losses in Q1.

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