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.
The European Banking Authority (EBA) formally launched on Wednesday the 2018 EU-wide stress test exercise by releasing the scenarios that will be applied to the methodology published last November.
Alpha Bank has become the latest among Greece’s four systemic banks to carry out a successful covered bond issue with the public auction of a 500-million euro bond last week.
The Bank of Greece (BoG) presents in its semiannual overview of the Greek financial system a sensitivity analysis on active NPE management by Greek financial institutions in relation to the operational targets of reducing their stock to 64.6 billion euros, from 101.8 billion, by the end of 2019.
As Greece’s banks gear up for the stress tests at the start of next year, a clearer picture is emerging as the Troubled Assets Review (TAR) is underway and banks are firming up their assessments about the implementation of the new provisioning standards in IFRS 9.
Alpha Bank’s reported net profits stood at 35.5 million in the third quarter (Q3) of 2017, attributable entirely from profits originating from continued operations.
Piraeus Bank’s third quarter (Q3) results showed a net loss of 19 million euros, undoing the net profit of 7 million euros seen in Q2.
National Bank of Greece (NBG) reported a net loss of 35 million euros in the third quarter (Q3) of 2017, slowing from a loss of 156 million euros in Q2.