NBG turns profitable in Q3, NPE stock drops further by 1 billion

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

National Bank of Greece (NBG) turned profitable again in the third quarter (Q3) of 2016 with a positive bottom-line result of 16 million from losses of 3.06 billion in Q2, which fully reflected a one-off loss of 3.1 billion related to the recycling of Finansbank’s losses that were previously recognised in other comprehensive income.

Similarly to the other two banks (Eurobank and Piraeus) that have released Q3 results so far, the key focus of this reporting period was on the asset quality evolution.

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