ATHENS (Thomson Financial) - ATEBank SA reported that its first quarter net
profits fell to 30.3 million euros from 74.6 million euros on account of the
debt and equity market turbulence, as well as the unfavorable comparison to Q1
2007 where one-off gains were booked.
Net interest income slid to 144.9 million euros from 157.9 million euros
last year due to higher interest expenses related to higher interest time
deposits, loan spreads pressure, and lower average balances of funds placed in
the interbank market.
The net interest margin stood at 2.9 percent in the first quarter.
Net fees and commissions income fell to 15.1 million euros from 20 million
euros last year. Figures last year were boosted by seasonal income fees, said
the bank.
It added that non-interest and non-fee income dropped to 15.4 million euros
from 62.5 million euros on reduced net trading income and net gains on disposals
of the available for sale portfolio between the two reporting periods.
Net customer loans grew 12.7 percent year on year due to household lending
and SME loans while deposits grew 3.2 percent from last year to 20 billion
euros.
Source: Euro2day.gr Newswire
cheryl.novak@thomsonreuters.com
cn/jfr
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