National Bank reports 1.15 bln H1 profit on back of 1 bln deferred tax

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

National Bank’s reported net profit reached 1.15 billion euros in the first half (H1) of the year, from 343 million last year. It was the second Greek bank after Alpha, which released Q1 results on August 28.

This year’s results include one-off items of 1.04 billion euros largely due to the recognition of additional deferred tax asset (DTA) of 994 million. Excluding one-offs, net profit landed at 109 million in H1 from 311 last year, down 65 percent.

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