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Piraeus, which is 26.2 percent owned by the country's bank rescue fund HFSF after its recapitalisation late last year, reported net profit of 31 million euros ($33.3 million) after net earnings of 20 million euros in the second quarter.
The group, with a current market value of 1.25 billion euros, said loan-loss provisions fell 9.0 percent to 242 million euros in July-to-September from 265 million in the second quarter.
Non-performing credit dropped to 38.8 percent of its loan book at the end of September from 39.2 percent in the second quarter.