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NPLs
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EconomyBanking
Piraeus Bank posts net profit of 49 mln in Q4 and 270 mln in 2019 Piraeus Bank’s final quarter (Q4) results showed profits of 189 million euros compared to a net profit of 49 million euros in Q3 2019.
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EconomyBanking
Covid-19 presents new, significant challenge in banks' effort to reduce NPLs The Greek banking system entered the new year with positive momentum for tackling the stock of non-performing exposures (NPE) after the Hercules asset protection scheme (APS) was launched, but the four weeks since the outbreak of the virus in Greece have brought the economy to a standstill and raised concerns about a new generation of bad loans.
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EconomyBanking
Loans under credit servicing firms rise 17.1 pct QoQ to 23.54 bln The Bank of Greece’s (BoG) released statistics for the fourth quarter (Q4) of 2019 regarding the operations of Credit Servicing Firms (CSFs) in Greece.
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EconomyProgramme
Fifth post-MoU review concludes successfully, EC highlights public investment, NPLs as areas of concern As was widely anticipated, since it had been trailed by Economic Affairs Commissioner Paolo Gentiloni during his recent visit to Athens, Greece’s fifth post-programme review was successfully completed with a positive report published by the European Commission on Wednesday.
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EconomyBanking
Hercules NPL reduction scheme receives first application from Eurobank The Greek government’s Hercules scheme for reducing bad loans on the books of the country’s four systemic banks received its first application on Tuesday from Eurobank.
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EconomyBanking
Ministry urges borrowers to apply for home protection before scheme expires In an effort led by Finance Minister Christos Staikouras, the government is intensifying efforts to have as many borrowers covered before the current primary residence protection scheme expires on April 30.
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PoliticsGreek Politics
Uproar over minister's home protection comments underscore sensitive nature of challenge With the fraught issue of home repossessions threatening to come to a head in the spring, recent statements by Development Minister Adonis Georgiadis have been attracting furious responses from across the opposition.
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EconomyBanking
Greek banks eye positive market appetite for bad loan sales Ahead of the EU’s stress tests and improving sentiment, Greece’s banks have begun making further inroads into their plans for reducing bad loans on their books.
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Economy
Deadline looms for troubled home protection scheme as insolvency law is lined up The sensitive issue of protecting primary residences from foreclosures, which over the last decade was dealt with by the so-called Katseli law that was introduced very early in the crisis and then extended by subsequent administrations, is starting to move up the agenda of key stakeholders.
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PoliticsGreek Politics
Pension bill to be unveiled as govt prepared for fifth post-MoU review Following a week when foreign policy dominated the political agenda in Greece, the government’s attention turns to the more mundane matters of the fifth enhanced surveillance review and pension reform in the coming days.