Greece's National Bank reports higher quarterly profit on strong interest income (updated)

National Bank of Greece

01/05/2024 08:34

(Adds more results)
       ATHENS, May 1 (Reuters) - National Bank  NBGr.AT ,
Greece's second-largest lender by market value, reported higher
earnings for the first-quarter on Wednesday on the back of
higher interest income.
    National Bank, which is 18%-owned by the country's HFSF bank
rescue fund, said net earnings came in at 358 million euros
($381.45 million), up from 260 million euros in the first
quarter last year.
     Net interest income grew by 22% to 606 million euros,
bolstered by strong margins as the European Central Bank kept
interest rates high.
         The bank's non-performing loans ratio also improved,
dropping to 3.7% at the end of March from 5.2% a year earlier,
with trading income up 19% to 60 million euros.
  

($1 = 0.9385 euros)

 (Reporting by Lefteris Papadimas, Editing by Louise Heavens)
 ((lefteris.papadimas@thomsonreuters.com; +30 210 3376477;
Reuters Messaging: lefteris.papadimas.reuters.com@reuters.net))