National Bank starts 2014 posting net profit of 181 mln in Q1

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

National Bank was the second Greek bank after Eurobank, which published Q1 results on May 28. Net profit landed at 181 million from 27 million last year mainly reflecting soaring pre-provision income (up 25 percent) and receding impairment losses (down 15 percent).

Even excluding several positive one-off items mainly related to deferred tax asset, the bank posted operating profit (before tax) at 76 million from 34 million in Q4 2013 and loss of 76 million in Q1 2013.

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