Profits drop but turnover expands for Ethniki

Ethniki Insurance has announced pretax profits of 34.1 million euros for the first half of the year, 28.6 percent less than the same period of 2017.

The drop in earnings from last year’s 47.8 million euros is attributed to the one-off revenues recorded in 2017 from the sale of stakes in foreign companies.

The National Bank of Greece subsidiary’s turnover amounted to 317.5 million euros in the January-June 2018 period, up 3.6 percent from a year earlier and slightly outperforming the insurance market, which enjoyed a 3.4 percent expansion in turnover.