Cyprus Mail

Bad debt provisions keep Greece’s Eurobank in the red

Greece’s Eurobank reported a jump in fourth-quarter losses on Wednesday as provisions for impaired credit weighed on its bottom line, while the pace of new bad debt formation was steady around third-quarter levels.

Kicking off the earnings reporting season for Greek banks, the country’s third-largest lender by assets reported a net loss of 524 million euros ($555 million), broadly in line with forecasts, against a 187-million euro loss in the third quarter.

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