The 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.
The Bank of Greece has released the latest data on non-performing loans for the second quarter of the year. It shows the NPE ratio standing at 21.3 pct - a level not seen in several years.
Eurobank posted a net income of 190 million euros in the first half (H1) of the year, compared to a loss of 1.17 billion euros in the same period last year.
Alpha Bank reported a net loss of 2.04 billion euros for the second quarter (Q2) of 2021, compared to a loss of 282.2 million euros in Q1, after booking losses from its Galaxy NPE portfolio securitization.
National Bank of Greece (NBG) reported a profit after tax from continuing operations of 622 million euros in the first half (H1), compared with a profit of 465 million euros in the same period of 2020, a rise of 34 pct.
Piraeus Bank posted a loss of 2.45 billion euros in the first half (H1) of 2021 due to impairments related to Covid and the NPE clean-up from loan securitisations.
The forward momentum in the Greek banking sector gathered pace on Friday when the results of the 2021 stress tests were announced.
Alpha Bank announced on Friday the successful completion of its 800-million-euro share capital raise, following a three-day book building process, with the price set at 1 euro per share.
The Bank of Greece’s (BoG) released statistics for the first quarter (Q1) of 2021 regarding the operations of Credit Servicing Firms (CSFs) in Greece.
Activity in Greece’s banking sector continues unabated as Greek systemic lenders proceed with their plans to improve their balance sheets and leave behind the legacy of the decade-long debt crisis.