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Economy
Fitch improves outlook to positive, sees investment grade hinging on fiscal performance and banks Fitch got the schedule of rating reviews in the new year underway with an upgrade of Greece’s outlook to positive from stable, while it reaffirmed the rating at ‘BB’.
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EconomyBanking
Piraeus seals 400 mln NPE sale as banks gear up for more balance sheet transactions in 2022 Piraeus Bank announced on Tuesday that it has reached a final agreement with Davidson Kempner for the sale of a shipping NPE portfolio with a gross book value of 400 million euros.
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EconomyMacroeconomy
Credit growth edges up to 1.1 pct in Nov Credit movement in the Greek private sector increased by 1.1 percent year-on-year (YoY) in November, from a rise of 0.9 percent in October and 0.8 percent in September, Bank of Greece (BoG) figures released on Wednesday showed.
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EconomyMacroeconomy
Private sector deposits rise by 1.83 bln in Nov, led by corporations The net private sector deposit movement in the Greek banking system jumped by 1.83 billion euros in November, based on Bank of Greece (BoG) figures released on Wednesday.
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EconomyBanking
Banks wrap up balance sheet transactions for 2021 on path to slashing NPEs In the closing weeks of the year, Greek systemic banks have maintained their efforts to tidy up their balance sheets and execute on their business plans, which foresee them reaching single digit NPEs by the end of next year.
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EconomyBanking
Loans managed by servicers rise by 10.44 bln in Q3 as banks clean up balance sheets In the third quarter (Q3) of 2021, loans managed by Credit Servicing Firms (CSF) stood at 72.2 billion euros, according to data released by the Bank of Greece (BoG) on Thursday.
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EconomyBanking
BoG sees banks on right path, warns impact of pandemic not visible yet The progress made by Greece’s banks to clean up their balance sheets was reflected in the latest financial stability report published by the Bank of Greece (BoG) on Thursday.
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EconomyBanking
Alpha Bank reports 2.5 bln loss in 9M as it intensifies effort to clean up balance sheet Alpha Bank reported a net loss of 2.5 billion euros in the first nine months of the year (9M), compared to profits of 134 million euros in 9M 2020, due to booking losses from its Galaxy NPE portfolio securitisation.
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EconomyBanking
NBG profits up to 714 mln in 9M as NPE ratio is reduced further National Bank of Greece (NBG) reported a profit after tax from continuing operations of 714 million euros in the nine months of the year (9M), compared with a profit of 602 million euros in the same period of 2020, improving by 19 pct.
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EconomyMacroeconomy
Credit growth stable at 0.9 pct in Oct, led by lending to corporates Credit movement in the Greek private sector increased by 0.9 percent year-on-year (YoY) in October, from a revised 0.8 percent in September and 0.8 percent in August, Bank of Greece (BoG) figures released on Friday showed.