Hellenic Bank reports a staggering €10M net loss in first quarter of 2017

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Things are still not looking good for Hellenic Bank’s future after reports online emerged that the lender generated further losses totaling €10.5m in 2017 Q1, against a €64 million loss in the last quarter of 2016, and minimal net profits for the entire financial year. The first quarter loss was attributable to increased Shareholders provisions which increased by €5.6m to €27.4m compared to the corresponding period in 2016. Net interest income generated by the bank also dropped to €33.7m so far this year.