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EconomyBanking
Piraeus Bank reaps reward of 2021 balance sheet clean-up as net profit reaches 520 mln in Q1 Piraeus Bank posted a net profit of 520 million euros in the first quarter (Q1) of 2022, from losses of 404 million euros last year, due to 829 million euros in clean-up impairments.
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EconomyMacroeconomy
Credit growth edges up to 1.6 pct in Mar, led by rise in business loans Credit movement in the Greek private sector accelerated slightly to 1.6 percent year-on-year (YoY) in March, from 1.4 per percent in February, 0.9 percent in January, Bank of Greece (BoG) figures released on Friday showed.
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EconomyMacroeconomy
Deposits drop for third straight month as corporates lead fall of 988 mln The net private sector deposit movement in the Greek banking system in March stayed negative, falling by a further 988 million euros, from 260 million in February, and 2.23 billion seen in January, based on Bank of Greece (BoG) figures released on Friday.
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EconomyMacroeconomy
Net credit flow turns positive in Feb: 1.4 pct rise led by loans to corporations Credit movement in the Greek private sector accelerated to 1.4 per percent year-on-year (YoY) in February, from 0.9 in January and 1.4 percent also seen in December, Bank of Greece (BoG) figures released on Monday showed.
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EconomyMacroeconomy
Start of 2022 sees back-to-back negative deposit flows for first time in three years The net private sector deposit movement in the Greek banking system in February remained negative, though much contained at 260 million euros, from negative flow of 2.23 billion seen in January, based on Bank of Greece (BoG) figures released on Monday.
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EconomyBanking
NBG reports profits of 833 mln in 2021 National Bank of Greece (NBG) reported a profit after tax of 833 million euros from continued operations in 2021, compared to a profit of 590 million euros in 2020, improving by 41 pct.
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EconomyBanking
Piraeus books losses of 3 bln as NPEs drop by nearly 17 bln Piraeus Bank posted a loss of 3.01 billion euros in 2021 due to impairments related to Covid-19 and the NPE clean-up in the form of loan securitisations and sales.
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EconomyBanking
Alpha books net loss of 2.91 bln in 2021 as balance sheet clean-up intensifies Alpha Bank reported a net loss of 2.91 billion euros in 2021, compared to profits of 104 million euros in 2020, as the bank intensified efforts to rid its balance sheet of troubled assets through increased securitisation activity.
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EconomyBanking
Eurobank's 2021 adjusted net profit at 424.3 mln, NPE ratio drops to 6.8 pct Eurobank posted a net income of 328.5 million euros in the full 2021, compared to a loss of 1.22 billion euros the previous year. Adjusted net profit was 424.3 million euros, from profits of 538.1 million in 2020.
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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’.