Eurobank posts net profits of 38 mln in Q4 and 230 mln in 2016

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

Eurobank recorded net profits of 38.3 million euros in the fourth quarter (Q4) of 2016 from 85.4 million in the previous quarter, which included a one-off gain of 55 million from the disposal of its insurance unit, Eurolife ERB.

For the whole year, Eurobank turned profitable for the first time since 2010. Its net profits reached 230.1 million in 2016 from losses of 1.18 billion a year ago, mostly due to huge loan loss provisions of 2.64 billion.

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