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Hellenic 9-Month Results Hit By Greek Bond Writedown

Hellenic Bank posted a 72.1 million-euro after-tax loss for the first nine months of 2011 on its write-down of Greek bonds, versus 12.05 million euros profit for the same period in 2010.

Income from interest was 156.97 million euros compared to 145.688 million last year, said Hellenic. Costs were at 128.23 million compared to 132.93 million in 2010 and pre-tax losses were 63.046 million compared to 16.146 million in 2010.

Hellenic has less exposure to Greek government bonds than other banks, it said in a statement last month.

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