Mortgage loans a key piece of NPL reduction puzzle
Card transactions in Greece experience boost due to capital controls
Piraeus Bank posts net profit of 24 mln in Q2, ELA funding fully eliminated
NBG remains profitable in Q2 with net results of 21 mln
Eurobank sees net profits of 1.1 mln in Q2, NPEs continue to fall
Alpha Bank makes loss of 52.9 mln in Q2, reaching profit of 12.3 mln in H1
Banks focus on defining challenge of reducing NPEs
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).
According to the latest available data from Bank of Greece (BoG) and the banks’ financial statements, 2017 was a successful year in meeting the NPE reduction targets but the reduction plan is backloaded and targets are steeper this year and next.
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