National Bank, Greece’s second largest lender by market value, reported higher earnings for the first quarter, on the back of higher interest income. The bank’s non-performing loans (NPL) ratio also improved, dropping to 3.7% at the end of March from 5.2% a year earlier, with trading income up 19% to €60 million.

The bank, which is 18%-owned by the country’s HFSF bank rescue fund, informed net earnings came in at €358 million euros, up from €260 million euros in the first quarter last year.

Net interest income grew by 22% to 606 million euros, bolstered by strong margins as the European Central Bank kept interest rates high.

Original Story: Hellenic Shipping News | Author:  Reuters
Edition: Prime Yield