Alpha Bank announced that it has started the process to execute one of the largest bad loan securitisations by a Greek bank.
The Bank of Greece (BoG) released a new quarterly bulletin last week detailing statistics regarding the operations of Credit Servicing Firms (CSFs).
Greece’s much-anticipated Asset Protection Scheme (APS), nicknamed Hercules, that aims to help banks clean up their balance sheets is a few steps away from coming into effect after the Finance Ministry submitted the draft law to Parliament on Tuesday under the emergency procedure.
In the financial stability report it issued last week, the Bank of Greece (BoG) emphasised the need for banks to reduce significantly the stock of non-performing exposures (NPE) and improve the composition of their capital base, 60 percent of which consists of deferred tax credits (DTC) and inhibits the systemic credit institutions.
In its latest financial stability report published on Thursday, the Bank of Greece (BoG) took stock of the various positive developments and encouraging signs for the economy and banking sector, while highlighting the challenges for systemic local banks, emanating from the quality of the loan portfolio and the composition of the capital structure that largely constitutes of deferred tax credits (DTC).
Piraeus Bank’s third quarter (Q3) results revealed net results from continued operations showing a profit of 44 million euros compared to a net profit of 20 million in Q2 2019
Eurobank recorded net profits of 56.3 million euros in the third quarter (Q3) of 2019, picking up strongly from profits of 9 million noted in Q2.
National Bank of Greece (NBG) reported a net profit of 171 million euros from continued operations in the third quarter (Q3) of 2019, compared to 122 million euros in Q2.
Alpha Bank reported net profits of 4.7 million euros for the third quarter (Q3) of 2019, falling sharply from net profits of 59.4 million euros in Q2.
In the Article IV consultation report that was published on Friday, the International Monetary Fund (IMF) took a detailed look into Greece’s banking sector, as the Fund has repeatedly stated that restoring Greek banks back to health is a prerequisite for the country to attract investment and achieve higher growth rates, while it remains an area of fiscal and wider financial stability risks.