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Newsletter 285 - 19/02/2021
investment budget came to 4.24 billion euros. Net revenues came to 3.85 billion euros, below target by 812
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Budget primary surplus at 3.07 bln in Mar on back of 2022 tax collections, underspend
EconomyMacroeconomyby 1.51 billion euros, while transfers were up by 812 million euros. This overperformance is due
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Stournaras eyes easing of capital controls, updates on loan quality and NPL reduction targets
EconomyMacroeconomyAppearing before Parliament’s economic affairs committee on Monday Bank of Greece (BoG) Governor Yannis Stournaras presented the organisation’s monetary policy report, which was released a month ago, and provided an update on Greek banks’ loan quality a...
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Bank of Greece report overviews lenders' profitability, urges drastic NPL management
EconomyBankingThe Bank of Greece (BoG) published on Tuesday an overview of the Greek financial sector, providing an update on the key developments and data over the past five years regarding banks’ profitability, loan quality and cards’ transactions. The report showe...
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Second post-MoU review hinges on NPL plan and protection for primary residences
EconomyProgrammeAn uncomfortable Euro Working Group meeting last week has left Athens with much to do in the coming days as it seeks to obtain the green light for the disbursement of the ANFA and SMP bond profits in March. According to reports, the institutions and eur...
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Banks highlight areas of concern in talks on NPL scheme
EconomyBankingThe Finance Ministry has redoubled its efforts to get over the line the Asset Protection Scheme (APS), codenamed Hercules, that is meant to help Greek systemic lenders reduce the stock of NPEs on their books by up to 30 billion euros through state guara...
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Commission gives go-ahead for APS to reduce NPL pile
EconomyBankingThe 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. The Commission concluded that under the proposed As...
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Bridge scheme activated as banks look to avoid second-wave NPL increase
EconomyBankingThe ‘Bridge’ scheme for mortgage subsidies, which will subside up to 90 percent of payments from eligible individuals, has been activated as part of a number of mechanisms to relieve pressure on borrowers hit by the coronavirus pandemic. The scheme begi...
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What is the state of play with Greek banks?
Economyall aspects of non-performing loan (NPL) resolution policies and procedures. The outcome..., 2013. On the contrary, the key worrying aspect is the high level of domestic NPL ratio currently... for National. As an indication, a 1 percentage point increase in the Greek NPL ratio would result
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Eurobank reports net loss of 301.1 mln in Q2
EconomyBanking-performing loan (NPL) ratio rose at a decelerating pace to 31.8 percent from 30.9 percent in Q1. The segmental breakdown showed small business NPL ratio at 50.2 percent, consumer at 44.7 percent, corporate at 30 percent and mortgages NPL at 21.2 percent. More importantly, the NPL formation fell sharply
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