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.
The ‘Bridge’ scheme for mortgage subsidies, which will subside up to 90 percent of payments from eligible individuals, has been activated as part of a number of mechanisms to relieve pressure on borrowers hit by the coronavirus pandemic.
The banking sector, particularly Piraeus Bank, was at the centre of attention last week, experiencing significant price turbulence as a result of concerns about coupon payments linked to the recapitalisation carried out five years ago.
Greece completed on Wednesday its fifth market foray for the year by re-opening the 15-year bond that it had issued at the end of January.
With Greece’s coronavirus numbers still climbing, Greece’s banking system is continuing with its bad loan reduction plans and an eventual return to normal operations.
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.