Banking
Piraeus Bank posts net profit of 44 mln in Q3 from continued operations
Piraeus Bank’s third quarter (Q3) results revealed net results from continued operations showing a profit of 44 million euros compared to a net profit of 20 million in Q2 2019
Eurobank net profits at 56.3 mln in Q3 from continued operations
Eurobank recorded net profits of 56.3 million euros in the third quarter (Q3) of 2019, picking up strongly from profits of 9 million noted in Q2.
NBG reports net profits of 171 mln in Q3, NPE’s fall on loan sales
National Bank of Greece (NBG) reported a net profit of 171 million euros from continued operations in the third quarter (Q3) of 2019, compared to 122 million euros in Q2.
Alpha Bank posts net profits of 4.7 mln in Q3
Alpha Bank reported net profits of 4.7 million euros for the third quarter (Q3) of 2019, falling sharply from net profits of 59.4 million euros in Q2.
![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF consultation report pinpoints health of Greek banks as central to growth
In the Article IV consultation report that was published on Friday, the International Monetary Fund (IMF) took a detailed look into Greece’s banking sector, as the Fund has repeatedly stated that restoring Greek banks back to health is a prerequisite for the country to attract investment and achieve higher growth rates, while it remains an area of fiscal and wider financial stability risks.
Eurobank first to tackle NPL reduction via APS
Eurobank is planning to use 2.5 billion euros of state guarantees from the Hercules plan to securitise its Cairo portfolio.
Watchdog raid strains testy relationship between banks and govt
Another chapter in the unexpectedly turbulent relationship between the new Greek administration and the country’s banks was written on Thursday when the Competition Commission raided the headquarters of the four systemic banks, Attica bank and the Hellenic Banking Association.
Piraeus sets ambitious NPL targets with Intrum deal as banks prepare securitisations
The deal between Piraeus Bank and Intrum which concluded in October will create the largest independent loan servicer in Greece, executives from both firms said in comments to the press late last week.
Banks enter final quarter with high hopes for bad loan reduction while challenges remain
Greece’s banks entered the final quarter of the year with several key developments on the front of reducing their bad loan pile.
Commission gives go-ahead for APS to reduce NPL pile
The European Commission (EC) announced on Thursday that it approved the Greek plan, codenamed “Hercules,” for helping Greek banks remove up to 30 billion euros in non-performing loans from their books.