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NPLs
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EconomyBanking
Alpha Bank launches major securitisation as banks ready portfolios for Hercules scheme Alpha Bank announced that it has started the process to execute one of the largest bad loan securitisations by a Greek bank.
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EconomyBanking
Q3 sees loans managed by servicers rise by 10.8 pct QoQ to reach 20.11 bln The Bank of Greece (BoG) released a new quarterly bulletin last week detailing statistics regarding the operations of Credit Servicing Firms (CSFs).
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EconomyBanking
APS bill tabled, allowing use of 12 bln in state guarantees to reduce NPLs Greece’s much-anticipated Asset Protection Scheme (APS), nicknamed Hercules, that aims to help banks clean up their balance sheets is a few steps away from coming into effect after the Finance Ministry submitted the draft law to Parliament on Tuesday under the emergency procedure.
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EconomyBanking
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.
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EconomyBanking
Eurobank net profits at 56.3 mln in Q3 from continued operations Eurobank recorded net profits of 56.3 million euros in the third quarter (Q3) of 2019, picking up strongly from profits of 9 million noted in Q2.
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EconomyBanking
NBG reports net profits of 171 mln in Q3, NPE’s fall on loan sales National Bank of Greece (NBG) reported a net profit of 171 million euros from continued operations in the third quarter (Q3) of 2019, compared to 122 million euros in Q2.
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EconomyProgramme
Brussels gives Athens thumbs-up for reforms and budget Greece’s new government managed to successfully clear on Wednesday the first major approval hurdle in its brief tenure as the European Commission (EC) published the fourth post-programme surveillance report, concluding that Greece has taken all the necessary steps to meet its mid-2019 commitments.
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EconomyBanking
Alpha Bank posts net profits of 4.7 mln in Q3 Alpha Bank reported net profits of 4.7 million euros for the third quarter (Q3) of 2019, falling sharply from net profits of 59.4 million euros in Q2.
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EconomyBanking![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF consultation report pinpoints health of Greek banks as central to growth In the Article IV consultation report that was published on Friday, the International Monetary Fund (IMF) took a detailed look into Greece’s banking sector, as the Fund has repeatedly stated that restoring Greek banks back to health is a prerequisite for the country to attract investment and achieve higher growth rates, while it remains an area of fiscal and wider financial stability risks.
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EconomyBanking
Eurobank first to tackle NPL reduction via APS Eurobank is planning to use 2.5 billion euros of state guarantees from the Hercules plan to securitise its Cairo portfolio.