Alpha Bank announced on Wednesday that it had entered into a binding agreement for the disposal of a mixed pool of NPEs to Greek SMEs secured by real estate assets, code named Neptune.
Piraeus Bank’s first quarter (Q1) results revealed a net loss of 232 million euros compared to a net profit of 189 million euros in Q4 2019.
Eurobank recorded net profits of 56.8 million euros in the first quarter (Q1) of 2020 compared to net profits of 32.6 million in Q4.
Alpha Bank reported a net loss of 10.9 million euros for the first quarter (Q1) of 2020 compared to net profits of 5.4 million euros in Q4 2019.
National Bank of Greece (NBG) reported a net profit of 409 million euros from continued operations in the fιrst quarter (Q1) of 2020, compared to 18 million euros in Q4.
Bank of Greece governor Yannis Stournaras has reiterated calls for the immediate implementation of Greece’s bad bank to deal with the reduction of NPEs.
As Greece moves to reopen its tourism season, the implications for Greece’s banking sector could be widespread thanks to the loan exposure that Greek banks have to this sector.
Eurobank announced last week that it was submitting the securitisation of the final arm of their Cairo portfolio to the government’s Hercules scheme.
The government has indicated that it is looking for further cooperation from the banking sector to inject liquidity into the country’s business landscape.
Greeks banks are facing a complicated challenge in the face of coronavirus as their efforts to reduce NPLs have come to a standstill.