S&P: Greek covered and securitised bonds rated investment grade for first time since 2011
Improving trends in property market highlighted by central bank
BoG report outlines benefits of surveillance and scenarios for debt
Piraeus enters agreement for sale of 2.2 bln loan portfolio
BoG Monetary Policy Report positive on programme end but advises caution for future targets
The race to reduce Greece's bad loans
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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