Banking
Eurobank net profits at 256.7 mln in 2019
Eurobank recorded net profits of 107.6 million euros in the fourth quarter (Q4) of 2019 compared to net profits of 59 million in Q3.
Hercules NPL reduction scheme receives first application from Eurobank
The Greek government’s Hercules scheme for reducing bad loans on the books of the country’s four systemic banks received its first application on Tuesday from Eurobank.
Ministry urges borrowers to apply for home protection before scheme expires
In an effort led by Finance Minister Christos Staikouras, the government is intensifying efforts to have as many borrowers covered before the current primary residence protection scheme expires on April 30.
Greek banks eye positive market appetite for bad loan sales
Ahead of the EU’s stress tests and improving sentiment, Greece’s banks have begun making further inroads into their plans for reducing bad loans on their books.
Banks gear up for 2020 stress tests as evaluation begins
The European Central Bank (ECB) announced last Friday the beginning of the stress test process for 2020, an EU-wide exercise that will be led by the European Banking Authority (EBA) and will examine 35 significant euro area banks, which are directly supervised by the ECB and cover 70 percent of banking sector assets in the eurozone.
Alpha Bank launches major securitisation as banks ready portfolios for Hercules scheme
Alpha Bank announced that it has started the process to execute one of the largest bad loan securitisations by a Greek bank.
Q3 sees loans managed by servicers rise by 10.8 pct QoQ to reach 20.11 bln
The Bank of Greece (BoG) released a new quarterly bulletin last week detailing statistics regarding the operations of Credit Servicing Firms (CSFs).
APS bill tabled, allowing use of 12 bln in state guarantees to reduce NPLs
Greece’s much-anticipated Asset Protection Scheme (APS), nicknamed Hercules, that aims to help banks clean up their balance sheets is a few steps away from coming into effect after the Finance Ministry submitted the draft law to Parliament on Tuesday under the emergency procedure.
BoG runs numbers to show how tackling NPE stock will benefit banks' bottom line
In the financial stability report it issued last week, the Bank of Greece (BoG) emphasised the need for banks to reduce significantly the stock of non-performing exposures (NPE) and improve the composition of their capital base, 60 percent of which consists of deferred tax credits (DTC) and inhibits the systemic credit institutions.
BoG urges banks to improve quality of capital, re-doubles SPV efforts
In its latest financial stability report published on Thursday, the Bank of Greece (BoG) took stock of the various positive developments and encouraging signs for the economy and banking sector, while highlighting the challenges for systemic local banks, emanating from the quality of the loan portfolio and the composition of the capital structure that largely constitutes of deferred tax credits (DTC).