Piraeus Bank posts pre-tax losses of 215 mln in H1
OECD advocates closer look at health and capital quality of Greek banks
BoG stresses more work needed on NPE reduction, pushes bad bank idea
Alpha seals bad loans sale deal, lenders brace for NPE management in Covid-19 era
Piraeus Bank posts net loss of 232 mln in Q1 due to Covid-19 impact
Eurobank net profits at 56.8 mln in Q1
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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