National Bank of Greece (NBG) reported a net loss of 423 million euros in the fourth quarter (Q4) of 2020, compared with a profit of 101 million euros in Q3.
Alpha Bank reported a net loss of 29.7 million euros for the fourth quarter of 2020 compared to a net profit of 44.3 million euros in Q3.
Piraeus Bank posted a loss of 662 million euros last year as it suffered from impairments arising from Covid and one-offs loan securitisation losses.
The Bank of Greece’s (BoG) released statistics for the fourth quarter (Q4) of 2020 regarding the operations of Credit Servicing Firms (CSFs) in Greece.
Eurobank posted its biggest loss since 2014 last year as the price of a restructuring that will bring down its bad loans ratio to a level approaching the European average.
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.