Net profit fell 69 percent to 113 million euros, before a one-off tax. Deducting the tax, net profit was 68 million euros.
Earnings were broadly in line with market expectations. Analysts in a Reuters poll were expect net profit at 63.4 million euros on average.
A squeeze in deposit spreads, weaker loan volumes and higher provisions made it tougher for Greek banks to make money last year. The country's debt crisis also hurt their bond portfolios.
"In 2010, Greece experienced the most severe sovereign debt and economic crisis in its modern history. Against the backdrop of such an adverse environment, the group remained profitable in every quarter of the year," said EFG Chief Executive Nick Nanopoulos.
Eurobank -- which also operates in Romania, Turkey, Bulgaria, Serbia, Poland and Ukraine -- said net interest income fell 3.7 percent to 2.254 billion euros, mainly due to increased deposit costs.
Provisions for bad debt at group level rose to 1.362 billion euros as the recession drove non-performing credit to 7.7 percent of the loan book.
SOURCE: REUTERS