The Bank of Greece’s (BoG) released statistics for the second quarter (Q2) of 2020 regarding the operations of Credit Servicing Firms (CSFs) in Greece.
Greece’s four systemic banks completed the second quarter of the year with relatively stable performance results amid the pandemic.
Property e-auctions resumed last week after a six month hiatus due to the coronavirus pandemic as banks hoped to preserve prices for valuations.
Eurobank recorded net results of an adjusted profit of 176 million euros in the first half (H1) of 2020 compared to net profits of 96.7 million in H1 2019.
Alpha Bank reported net profits of 98 million euros for the second quarter (Q2) of 2020 compared to a net loss of 11 million euros in Q1 2020.
National Bank of Greece (NBG) reported a strong net profit of 465 million euros from continued operations in the fιrst half (H1) of 2020, compared to 245 million euros in H1 2019.
Having experienced a setback earlier in the year, when the pandemic broke out and led to reconfiguration of the plans on securitisations, Greek systemic banks are accelerating their efforts to catch up for lost time in restoring the health of their balance sheets.
Piraeus Bank’s first half (H1) results revealed pre-tax losses of 215 million euros compared to pre-tax profits of 57 million euros in the relevant period in 2019.
In its latest survey for Greece, published on Wednesday, the OECD draws attention to the Greek banking system and the importance of improving banks’ balance sheets so the lenders can resume their critical role of financing the economy, particularly due to the difficulties caused by the pandemic.
The Bank of Greece (BoG) issued on Thursday its latest financial stability report, which includes data from the first quarter of 2020.