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Piraeus
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HFSF sets out bank divestment strategy, marking final chapter in turbulent story
EconomyBankingThe Greek authorities moved a step closer last week to their objective of divesting the state’s share in the systemic banks through the Hellenic Financial Stability Fund (HFSF) after the publication of the divestment strategy that was compiled by Rothschild and was approved by the Finance Ministry at the end of last year.
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Piraeus reports 729 mln profit as cost of balance sheet clean-up drops by 3.5 bln
EconomyBankingPiraeus Bank posted a net profit of 729 million euros in the nine months (9M) of 2022, from losses of 3.09 billion euros last year, due to 3.75 billion euros in clean-up impairments in 9M 2021.
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Piraeus Bank reports 614 mln profit in H1 after NPE de-risking drive in 2021
EconomyBankingPiraeus Bank posted a net profit of 614 million euros in the first Half (H1) of 2022, from losses of 2.45 billion euros last year, due to 3 billion euros in clean-up impairments in H1 2021.
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Piraeus Bank reaps reward of 2021 balance sheet clean-up as net profit reaches 520 mln in Q1
EconomyBankingPiraeus Bank posted a net profit of 520 million euros in the first quarter (Q1) of 2022, from losses of 404 million euros last year, due to 829 million euros in clean-up impairments.
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Piraeus books losses of 3 bln as NPEs drop by nearly 17 bln
EconomyBankingPiraeus Bank posted a loss of 3.01 billion euros in 2021 due to impairments related to Covid-19 and the NPE clean-up in the form of loan securitisations and sales.
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Piraeus seals 400 mln NPE sale as banks gear up for more balance sheet transactions in 2022
EconomyBankingPiraeus Bank announced on Tuesday that it has reached a final agreement with Davidson Kempner for the sale of a shipping NPE portfolio with a gross book value of 400 million euros.
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Banks wrap up balance sheet transactions for 2021 on path to slashing NPEs
EconomyBankingIn the closing weeks of the year, Greek systemic banks have maintained their efforts to tidy up their balance sheets and execute on their business plans, which foresee them reaching single digit NPEs by the end of next year.
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Piraeus records loss of 3.09 bln as aggressive NPE reduction carries impairments
EconomyBankingPiraeus Bank posted a loss of 3.09 billion euros in the first nine months (9M) of 2021 due to impairments related to the NPE clean-up from loan securitisations and sales and Covid-19.
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Piraeus completes Sunrise II securitisation as banks stay focused on NPE reduction
EconomyBankingPiraeus Bank announced on Monday that it entered into definitive agreement with Intrum and Serengeti Asset Management for the sale of 49 pct of the mezzanine and 2 pct of the junior notes of the Sunrise II securitisation.
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Banks moving at pace on road to recovery
EconomyBankingThe momentum of positive developments in the Greek banking sector is growing as systemic lenders appear to be leaving behind them, with gradual but steady steps, the legacy issues of the decade-long debt crisis that damaged their balance sheets.