Greece's Piraeus Bank turns profitable in Q2, bad debt provisions drop

August 30, 2016 2:45 PM

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ATHENS Aug 30 Piraeus Bank turned profitable in the second quarter, helped by lower provisions for impaired loans, Greece's largest lender by assets said on Wednesday.

Piraeus, which is 26.2 percent owned by the country's bank rescue fund HFSF after its recapitalisation late last year, reported a net profit of 20 million euros ($22.31 million) after a net loss of 37 million euros in the first quarter.

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