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Eurobank 9-month net profit rises on strong interest income, fees

By Reuters News

ATHENS, Oct 29 (Reuters) - Eurobank EURBr.AT, Greece's largest lender by market value, on Thursday reported higher profit for the first nine months of the year, driven by rising net interest income and net fee and commission incomes.

Reported net earnings came in at €1.16 billion ($1.29 billion) in the January-to-September period, up 12.4% from the €1.03 billion it reported last year.

  • Net interest income in 9-month to September up 8.7% year-on-year to €2.06 billion

  • Net fee and commission income rose 13% to €630 million.

  • Loans grew organically by €3.8 billion, up 10.5% year-on-year

  • Assets under management rose 22.3% year-on-year or by €1.5 billion

  • Non-performing exposure ratio improved to 2.4% from 2.8% a year earlier

  • CEO Fokion Karavias said the bank will distribute an interim dividend of 5.99 cents per share on November 26

($1 = 0.8971 euros)

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