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Banking
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EconomyBanking
Covid-19 presents new, significant challenge in banks' effort to reduce NPLs The Greek banking system entered the new year with positive momentum for tackling the stock of non-performing exposures (NPE) after the Hercules asset protection scheme (APS) was launched, but the four weeks since the outbreak of the virus in Greece have brought the economy to a standstill and raised concerns about a new generation of bad loans.
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Economy
Govt extends 800-euro bonus, heralds loan payment holiday for individuals as well as firms Only two days after announcing economic measures of up to 2 billion euros to support businesses and employees, while also making another 1.8 billion euros of European Union funds available, ministers unveiled further interventions on Friday.
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EconomyBanking
Loans under credit servicing firms rise 17.1 pct QoQ to 23.54 bln The Bank of Greece’s (BoG) released statistics for the fourth quarter (Q4) of 2019 regarding the operations of Credit Servicing Firms (CSFs) in Greece.
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EconomyBanking
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.
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EconomyMacroeconomy
Credit contraction unchanged at 0.6 pct in Jan, balance at 153.43 bln Credit contraction in the Greek market came to 0.6 percent in January, unchanged from December, Bank of Greece (BoG) figures showed on Thursday.
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EconomyMacroeconomy
Deposits drop by 2.16 bln in January Net deposit movements in the Greek banking system were negative by 2.16 billion euros in January following positive flows of 3.65 billion in December, Bank of Greece (BoG) figures revealed on Thursday.
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EconomyProgramme
Fifth post-MoU review concludes successfully, EC highlights public investment, NPLs as areas of concern As was widely anticipated, since it had been trailed by Economic Affairs Commissioner Paolo Gentiloni during his recent visit to Athens, Greece’s fifth post-programme review was successfully completed with a positive report published by the European Commission on Wednesday.
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EconomyBanking
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.
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EconomyBanking
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.
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EconomyBanking
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.