Alpha profit tumbles in Q2 while National posts net loss

National Bank, Greece's second-biggest lender by assets, swung to losses in the second half of the year, while Alpha, Greece's fourth-largest, reported sharply lower profit in April-to-June after taking a loss on the sale of its Serbian subsidiary, despite lower provisions for impaired loans.

National turned loss-making in April-to-June as trading losses offset a decline in bad debt provisions. NBG, 40 percent owned by the country's bank rescue fund HFSF, on Thursday reported a net loss from continued operations of 52 million euros versus a net loss of 8.0 million euros in the first quarter. NBG said loan impairments fell 14 percent to 200 million euros while its stock of nonperforming exposures (NPEs) shrank by 300 million euros quarter-on-quarter.

Its NPE ratio settled at 45 percent. Alpha, 11 percent owned by HFSF, reported net profit of 1.4 million euros, down...

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