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Banking
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EconomyBanking
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.
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EconomyBanking
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.
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EconomyBanking
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.
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EconomyMacroeconomy
Credit contraction at 0.5 pct in Sept, balance at 157.28 bln Credit contraction in the Greek market came to 0.5 percent in September from 0.1 percent in August, Bank of Greece (BoG) figures showed on Tuesday.
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EconomyBanking
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.
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EconomyBanking
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.
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EconomyBanking
Banks highlight areas of concern in talks on NPL scheme The 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 guarantees on securitisations.
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EconomyBanking
Athens looks to overcome APS snags as it awaits green light from Brussels Finance Minister Christos Staikouras was due to meet the CEOs of Greece’s four systemic banks on Thursday as the government appears to be stepping up its efforts to secure approval for the Asset Protection Scheme (APS) aimed at reducing the giant pile of NPLs on their balance sheets.
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EconomyBanking Loans under credit servicing firms drop 0.7 pct QoQ to 17.45 bln The Bank of Greece (BoG) released a new quarterly bulletin last week detailing statistics regarding the operations of Credit Servicing Firms (CSFs).
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EconomyMacroeconomy
Credit contraction stays at 0.1 pct in August, balance at 159.90 bln Credit contraction in the Greek market stayed at 0.1 percent in August, unchanged from July, Bank of Greece (BoG) figures showed on Wednesday.