Greece's National Bank raises 2024 profit guidance

National Bank of Greece

01/08/2024 08:47

ATHENS, Aug 1 (Reuters) - National Bank (NBG)  NBGr.AT ,
Greece's second-largest lender by market value, on Thursday
posted a 26% rise in first-half net profit and raised its core
profit guidance for 2024. 
    NBG, 18% owned by the country's HFSF bank rescue fund,
reported net earnings of 670 million euros ($723.9 million), up
from 530 million euros in the same period last year.
    The lender said the stronger income from net interest and
fees prompted it to revise its full-year core profit guidance to
about 1.3 billion euros from around 1.2 billion euros
previously. 
    Net interest income jumped 13% year on year to 1.2 billion
euros, it said.
    Greek lenders have benefited from a recovery in the nation's
economy, which is forecast to grow 2.5% this year, outperforming
other euro zone countries. 
($1 = 0.9255 euros)

 (Reporting by Karolina Tagaris
Editing by David Goodman
)
 ((karolina.tagaris@thomsonreuters.com; +30 210 3376 455;))