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
Alpha Bank posts net loss of 10.9 mln in Q1
NBG results show net profits of 409 mln euros on strong trading income in Q1
BoG governor renews calls for launch of bad bank and ESM use
BoG runs numbers to show how tackling NPE stock will benefit banks' bottom line
In the financial stability report it issued last week, the Bank of Greece (BoG) emphasised the need for banks to reduce significantly the stock of non-performing exposures (NPE) and improve the composition of their capital base, 60 percent of which consists of deferred tax credits (DTC) and inhibits the systemic credit institutions.
Halfway through the year, NPEs stood at 39.2 percent of loans which is far above the European Union average of 3 percent and the ECB-supervised institutions’ average of 3.6 percent.
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