Banking
Alpha Bank posts net profits of 41 mln in Q3, discloses NPE reduction targets
Alpha Bank concluded the reporting period of the four systemic Greek banks releasing its third-quarter (Q3) results on the last day of November.
NBG turns profitable in Q3, NPE stock drops further by 1 billion
National Bank of Greece (NBG) turned profitable again in the third quarter (Q3) of 2016 with a positive bottom-line result of 16 million from losses of 3.06 billion in Q2, which fully reflected a one-off loss of 3.1 billion related to the recycling of Finansbank’s losses that were previously recognised in other comprehensive income.
Moody’s changes outlook for Greek banks from negative to stable
In a report released on Tuesday, Moody’s upgraded Greek banks’ outlook to stable from negative on the back of improving profitability and funding, which are expected to normalise from a very weak base.
Eurobank records net profits of 85 mln in Q3, updates on NPE reduction targets
Eurobank posted an improvement in net profits to 85.4 million in the third quarter (Q3) of 2016 from 46.2 million in the previous quarter.
Piraeus Bank posts net profits of 31 mln in Q3, records improved asset quality trends
Piraeus Bank reported a positive bottom-line result for the second straight quarter, with net profits rising to 31 million euros in the third quarter (Q3) of 2016 from 20 million in the previous quarter.
Government steps in as NBG row takes new twist
Just one day after the election of the new chairman at the National Bank of Greece (NBG), which was seen as providing respite in the recent dispute between the NBG top management and the bank’s major shareholder, the Hellenic Financial Stability Fund (HFSF), things appear to be flaring up again at the lender.
NBG elects chairman, HFSF calls time-out in dispute over management
The turmoil at the National Bank of Greece (NBG) caused by the dispute between the NBG top management and the Hellenic Financial Stability Fund (HFSF) over the new chairman at the bank seems to have temporarily ended on Wednesday.
Deadlock at NBG over chairman appointment
While it is widely acknowledged that the key challenge for Greek banks going forward is tackling the huge stock of non-performing exposures (NPEs), a new complication emerged over the past few days regarding the appointment of a new chairman at National Bank (NBG).
Alpha and NBG complete sales of hotels
Two of the four core Greek banks, Alpha and NBG, announced the completion of the sale of their hotel subsidiaries at the end of last week. Both transactions are part of the banks’ restructuring plans, which include, among others, disposal of non-core assets.
HFSF records losses of 578 mln in Q1 on negative revaluation of bank holdings
The interim financial statements of the Hellenic Financial Stability Fund (HFSF) published on Friday afternoon showed net losses of 577.83 million euros in the first quarter (Q1) of 2016 from 4.97 billion a year ago.