Editing Higher Core Income Boosts Greece apos;s National Bank Q3 Profit

<br>ATHENS, Nov 30 (Reuters) - National Bank (NBG),  [https://www.kynghidongduong.vn/tours/tour-du-lich-le-hoi-yen-tu-chua-ba-vang-quang-ninh-du-lich-yen-tu-tu-ha-noi.html tour yên tử] one of Greece's four largest lenders, on Monday reported higher third-quarter net profit compared to the second quarter on stronger fee and net interest income.<br> <br>NBG, 40 percent owned by the country's HFSF bank rescue fund, said net profit from continued operations reached 137 million euros ($164.26 million), versus net earnings of 58 million euros in the second quarter.<br> <br>NBG said its ratio of non-performing exposures (NPEs), which includes non-performing loans (NPLs) and  [https://www.kynghidongduong.vn/tours/tour-du-lich-le-hoi-yen-tu-chua-ba-vang-quang-ninh-du-lich-yen-tu-tu-ha-noi.html tour yên tử ba vàng] other credit likely to turn bad, eased to 29.3% of its loan book from 29.9% in June.<br> <br>The bank said it plans to launch the securitisation of its 'Project Frontier' impaired loans portfolio in a few weeks, a transaction that will slash its current 10 billion euros NPE exposure by about 6.0 billion euros.<br> <br>"Our exposure to legacy NPEs is set to be reduced to levels previously experienced almost a decade ago, allowing us to focus on growth opportunities and restoring our profitability to more appropriate levels," CEO Paul Mylonas said in a statement.<br> <br>Greek banks have offered businesses and households hit by the coronavirus pandemic a six-month freeze on loan payments as part of relief efforts to help borrowers cope with the economic fallout from the virus lockdowns.<br> <br>NBG's loan payment moratoria, extended to corporate and retail clients, amounted to 3.6 billion euros.<br><br>After the expiry of moratoria, the bank said it will offer step-up solutions to borrowers who [https://www.academia.edu/people/search?utf8=%E2%9C%93&q=continue continue] to experience short-term difficulties.<br> <br>The group said net interest income recovered by 11.9% quarter-on-quarter to 290 million euros, driven by the expansion of its performing loans book and lower funding costs as it made use of the ECB's TLTRO facility.<br> <br>($1 = 0.8340 euros) (Reporting by George Georgiopoulos; Editing by Dan Grebler)<br>