Greek cooperative banks reported improved results for the first quarter of 2010, compared with the same period in 2009, despite difficult conditions in the Greek economy.

Nikos Myrtakis, president of the Association of Cooperative Banks of Greece, said assets rose 8.3 pct to 4.354 billion euros, loans rose 11.2 pct to 3.447 billion euros and saving deposits rose 6.5 pct to 3.455 billion euros in the January-March period.

Equity capital rose 9.3 pct to 559 million euros, while pre-tax earnings jumped 55.5 pct to 16.4 million euros. Myrtakis said the association operated a branch network of 230 units around the country.