Finance Ministry grapples with escalating cost of pandemic
Pandemic drove 28.4 bln of bank loans into moratorium last year
Fitch keeps Greece at 'BB' rating as risks remain on horizon
PDMA highlights improving debt profile, targets 8-12 bln in new issues for 2021
BoG insists on need for bad bank, sees EU funds boosting recovery from 2021
Moody's upgrades Greece to 'Ba3' on back of reforms, warns of tricky period ahead
What is the state of play with Greek banks?
Having suffered huge losses due to the PSI last year, completed a series of M&A that reshuffled the domestic banking landscape and successfully recapitalised in June, Greek banks remain at the forefront of domestic corporate developments. Their stock performance, with gains in excess of 50 percent over the past three months, has also triggered increased interest from the investment community. Although not out of the woods yet, they appear ready to tackle with upcoming challenges from a better capital position amid a more optimistic macro outlook for the first time since the beginning of the crisis.
Last year started with the implementation of PSI, which resulted in a 24.1-billion-euro net loss for the four core banks (namely Alpha Bank, Eurobank, National Bank and Piraeus Bank), while the total loss for the sector stood at 31.9 billion. At the end...
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