Greek banks Alpha, Eurobank post weak Q2 results

Greek banks Alpha and Eurobank posted weak second-quarter results on Thursday, with Alpha swinging to a loss and Eurobank barely profitable as both focus on shrinking their bad debt load.

Fourth-largest bank Alpha, 11 percent owned by the country's bank rescue fund HFSF, reported a net loss from continuing operations of 52.9 million euros ($61.7 million) due to weaker trading income, after a net profit of 65.2 million euros in the first quarter.

Third-largest lender Eurobank, 2.4 percent owned by the HFSF fund, reported net earnings of just 1.0 million euros ($1.66 million) from continued operations after a profit of 35 million euros in the first quarter.

Greek banks remain focused on reducing their bad debt portfolios and meeting targets agreed with regulators.

"Our business priorities remain unchanged. First there is the gradual reduction of non...