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EFG Eurobank with 61% profit decrease

The Greek bank EFG Eurobank announced its profits drop 61 percent in the second quarter on an annual basis. The main reason for this state increased provisions to cover bad loans, says Wall Street Journal. Earnings per second largest Greek bank's assets amounted to EUR 34 million after the second quarter of the year it was 88 million euros. Analysts estimates were for a profit of 31.9 million. The provisions for bad loans rose 21 percent to 346 million, the report shows. Expectations were for a more limited growth to 345.2 million. Net interest income Eurogank EFG for the second quarter fell by 4.9 percent annually to 561 million. Markets, however, expected that this indicator amounted to 568.6 million. In the first half year performance in Central and Eastern Europe is improving, it has achieved a profit of 12 million. For the first half of last year the region has brought loss of 26 million. Earlier this week, the other leading Greek banks also have announced their results. Piraeus has managed to achieve a profit of 3 million, while National Bank of Greece suffered a profit decline of 68 per cent.
A positive result does Alpha Bank has fallen by over 60 per cent.