Greece's NBG lifted by strong Turkish performance

National Bank of Greece lifted by strong Turkish performance

Associated Press

ATHENS, Greece (AP) -- The National Bank of Greece has reported first-quarter profits of 27 million euros ($35 million) with a strong performance by its Turkish unit, Finansbank, keeping the group profitable.

NBG, Greece's largest bank, on Friday said Finansbank had earned 155 million euros ($200 million) in the first three months of 2013, a 23 percent increase from that quarter in 2012.

Group's modest profit compared to a loss of 731 million euros ($945.8 million) in the first quarter of 2012.

NBG also operates in Bulgaria, Romania, Serbia, Albania and Macedonia.

Trading in NBG shares was suspended on the Athens Stock Exchange on Friday as the bank prepares to complete a bailout-funded recapitalization program.