Eurobank EFG improved its operating performance and delivered profitable results in the third quarter of 2011 despite the adverse and uncertain conditions which continued to prevail in the Greek economy and the international markets.
Net interest income for the third quarter of 2011 was EUR513m.
Net income for the nine months of 2011 was EUR89m, up 48%, compared to EUR60m for the same period a year ago.
Eurobank CEO Nicholas Nanopoulos said amid particularly adverse conditions, their Group managed to maintain a strong pre-provision income, at levels sufficient to secure positive bottom line results in the third quarter of 2011.
"Our operations in Southeast Europe contributed substantially to this positive development. At the same time, we intensified our efforts to further rationalize our cost base and to stabilize the formation of new past due loans," added Nanopoulos.
The bank is expected to tie up its merger with Alpha Bank in December 2011.
