Cyprus Hellenics profit hit by provisioning for bad loans

Cypriot lender Hellenic Bank posted a net loss of 46 million euros in the first half of 2013, on increasing provisioning costs for loans that soured during a financial crisis.Hellenic, 19.2 percent owned by the Church of Cyprus, reported a net profit of 14.8 million euros in the first half of 2012.The lender did not have the exposure its Cypriot peers Laiki and Bank of Cyprus had to Greece, which ...

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