The subsidiaries of Greek financial groups felt the impact ofcredit risk differently in the first six months of 2010. Thus,while Bancpost saw loan portfolio quality stabilise, Alpha Bank setup additional provisions of 47m euros, up from 19.5m euros a yearago.
Bancpost and the other local subsidiaries of EFG Eurobank Greekgroup posted net income worth 10.7m euros in the first half,against a 7.6m-euro loss in January-June 2009. The positive resultcomes as the pressure of bad loans has eased up.
On the other hand, Alpha Bank reported 23.7m-euro gross income,down 31.7% from the first half of 2009. Bad loans in June climbedto 5.7% in the portfolio, from 2.6% in December.
The domestic subsidiaries of EFG Eurobank Greek group, the majorityshareholder of Bancpost, in the second quarter posted 8.6m-euro netincome, while net profits had amounted to only 2.1m euros in thefirst quarter. The improved financial result comes amid the lowerbad loan provisions.
Alpha Bank Greek financial group reported 15.6m-euro gross incomefrom Romanian operations in the second quarter, after an 8.1m-eurogain in January-March 2010, amid rising revenues and fallingoperating costs.
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