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Banking
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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.
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EconomyMacroeconomy
Deposits growth slows to just 11 mln in Oct The net private sector deposit movement in the Greek banking system remained broadly stable in October, rising by just 11 million, from 441 million euros in September and an increase of 1.48 billion euros seen in August.
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EconomyBanking
Eurobank profitability rises in 9M, Mexico securitisation takes NPE ratio to 7.3 pct Eurobank posted a net income of 216 million euros in the first nine months (9M) of the year, compared to a loss of 1.08 billion euros in the same period last year.
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EconomyBanking
Piraeus records loss of 3.09 bln as aggressive NPE reduction carries impairments Piraeus Bank posted a loss of 3.09 billion euros in the first nine months (9M) of 2021 due to impairments related to the NPE clean-up from loan securitisations and sales and Covid-19.
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EconomyBanking
Piraeus completes Sunrise II securitisation as banks stay focused on NPE reduction Piraeus Bank announced on Monday that it entered into definitive agreement with Intrum and Serengeti Asset Management for the sale of 49 pct of the mezzanine and 2 pct of the junior notes of the Sunrise II securitisation.
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EconomyBanking
Banks make steady progress on improving balance sheets via securitisations Greece’s systemic banks are moving ahead with efforts to improve their balance sheets, aiming for single digit NPE ratios and profitability next year through securitisations assisted by the extension of the Hercules II APS.