Banking
Eurobank to merge with Grivalia Properties and create SPV to cut bad loans
One of Greece’s four systemic banks, Eurobank, has announced shortly after releasing its third-quarter results that the bank is forming its own special purpose vehicle (SPV) for handling its pile of bad loans.
BoG provides details of ambitious plans to slash NPLs via SPV
In the overview of the Greek financial system that was published late on Thursday, the Bank of Greece (BoG) outlines its proposal for the systemic management of non-performing exposures (NPEs).
Eurobank net profits of at 45.1 mln in Q3, NPEs under 40 pct for first time
Eurobank recorded net profits of 45.1 million euros in the third quarter (Q3) of 2018 compared to profits of 1.1 million in the previous quarter.
Amid efforts to help banks reduce NPLs, portfolio sales dominate drive to meet 2018 targets
Having weathered a tumultuous October, Greece’s domestic banking system and relevant stakeholders that include Bank of Greece and HFSF are looking into ways that will help banks reduce the risk on their books and bring down their non-performing exposures.
APS option to help banks with bad loans seen gaining ground
Greek authorities appear to be edging towards the option of creating an Asset Protection Scheme (APS) to help banks reduce their stock of bad loans, developments this week suggest.
Amid market turbulence, Greece searches for scheme to help banks reduce bad loans
Following weeks of uncertainty and pressure on the banking sector, which climaxed in a big drop in bank share prices on Wednesday, there have been reports of efforts to provide the Greek lenders with assistance.
Banks submit new NPL targets to SSM, with sales leading way in reduction drive
Greece’s four systemic banks have submitted new Single Support Mechanism (SSM) guidelines on Friday, under which the banks’ bad loans will be tackled.
Mortgage loans a key piece of NPL reduction puzzle
The persisting issue of non-performing loans (NPLs) was one of the key items discussed last week by the government and the institutions.
Card transactions in Greece experience boost due to capital controls
Payment statistics by the European Central Bank released last week have revealed that card payments in Greece experienced notable growth in recent years.
Piraeus Bank posts net profit of 24 mln in Q2, ELA funding fully eliminated
Piraeus Bank’s second quarter (Q2) results showed that net profits from continued operations came to 24 million, recovering from a loss of 80 million euros in Q1.