Having breathed a sigh of relief following the conclusion of the stress test exercise, which did not indicate any need for raising significant additional capital, Greek banks can now continue without any distractions to tackle the major challenge of de-risking their balance sheets by reducing the number of non-performing exposures (NPEs).
Piraeus Bank’s first quarter (Q1) results revealed net results from continued operations showing a loss of 80 million euros compared to a net profit of 12 million in Q4 2017.
The European Central Bank’s (ECB) Banking Supervision announced on Saturday the results of the 2018 stress tests for Greece’s four systemic banks following the same methodology and approach as the EU-wide EBA exercise.
Piraeus Bank’s fourth quarter (Q4) results showed a net profit of 12 million euros from continued operations, reversing the loss of 17 million seen in Q3.
National Bank of Greece (NBG) reported a net loss of 60 million euros in the fourth quarter (Q4) of 2017 from continued operations, deepening from the loss of 44 million in Q3.
Alpha Bank reported net profits of 21.1 million euros for the full year of 2017. Net profits from 2016 stood at 42.1 million, resulting in an annual decline of 50.1 percent.
Amid the final stretch for Greece ahead of exiting its programme in August, there is one point of discussion that negotiations keep returning to, that of the bad loans plaguing the country’s banking system.
Another box was ticked this week in the process that began last month, when the European Banking Authority officially launched the stress tests for Greek banks, which are due to be completed in May.
Eurobank recorded net profits of 53.3 million euros in the fourth quarter (Q4) of 2017 from 61.2 million in the previous quarter, representing a quarter-on-quarter (QoQ) decline of 12.6 percent.
A clearer picture of the stress tests for Greek banks emerged over the past few days as the various stages and dates involved in the process were finalised.