On August 29, the National Bank of Greece (NBG) reported its third consecutive quarterly profit. Second quarter results showed improvement across all three geographic segments. In Greece, a reduction in new non-performing loans, an increase in lower cost retail deposits, a decline in higher cost Euro system funding, continued progress in reducing operating costs and some one-off gains helped the Bank to achieve breakeven results for the quarter, reversing last year's €2.0 billion loss. In Turkey, Finansbank's breakneck growth continued, with loans up 14% (in Euro terms), income (i.e. net revenues) up 25% and net profits up 30% year-on-year. In Southeast Europe (SEE), a modest pick-up in economic activity helped NBG to post a small...
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