Piraeus Bank and Alpha Bank are both moving forward with actions this week to continue strengthening their balance sheets, with the former extending its ongoing partnership with Swedish loan servicer Intrum AB.
Alpha Bank entered an agreement with US investor Davidson Kempner Capital Management in a deal worth about 230 million euros that moves it towards completing Europe’s second-largest rated NPE securitisation.
The government’s Hercules Asset Protection Scheme (APS) for reducing bad loans on the books of the country’s major banks now includes all four systemic lenders following National Bank of Greece’s application to participate in the plan.
In its regular release cycle of the financial stability report on Thursday, Bank of Greece (BoG) stepped up its warnings regarding the pandemic’s impact on the Greek banking system.
At the end of a challenging year for the banking sector, Greece’s systemic banks have continued their activity to reduce bad loans with a few days of 2020 left.
The Bank of Greece’s (BoG) released statistics for the third quarter (Q3) of 2020 regarding the operations of Credit Servicing Firms (CSFs) in Greece.
National Bank of Greece (NBG) reported net profits of 602 million euros from continued operations in the fιrst nine months (9M) of 2020, compared to 452 million euros in 9M 2019.
Alpha Bank reported net profits of 43.8 million euros for the third quarter (Q3) of 2020 compared to a net profit of 97.5 million euros in Q2 2020.
Piraeus Bank’s nine-month (9M) results revealed pre-tax losses of 133 million euros compared to pre tax profits of 110 million euros in the relevant period in 2019.
Eurobank recorded net results of a loss of 1.08 billion euros in the nine-month period (9M) of 2020 compared to net profits of 94.3 million in 9M 2019.