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EconomyBanking
Alpha Bank enters agreement with Davidson Kempner for 10.8 bln Galaxy securitisation Alpha Bank entered an agreement with US investor Davidson Kempner Capital Management in a deal worth about 230 million euros that moves it towards completing Europe’s second-largest rated NPE securitisation.
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Economy
Pandemic drove 28.4 bln of bank loans into moratorium last year The quantity of loans that went into moratorium last year from the end of March stood at 28.4 billion euros, according to an update from the Finance Ministry.
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EconomyBanking
Hercules nears end of its first cycle with National Bank's participation The government’s Hercules Asset Protection Scheme (APS) for reducing bad loans on the books of the country’s major banks now includes all four systemic lenders following National Bank of Greece’s application to participate in the plan.
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EconomyBanking
BoG warns pandemic will leave trail of bad loans, hastening need for new tools In its regular release cycle of the financial stability report on Thursday, Bank of Greece (BoG) stepped up its warnings regarding the pandemic’s impact on the Greek banking system.
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EconomyBanking
Banks end year with continued bad loan sales At the end of a challenging year for the banking sector, Greece’s systemic banks have continued their activity to reduce bad loans with a few days of 2020 left.
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Economy BoG insists on need for bad bank, sees EU funds boosting recovery from 2021 The Bank of Greece tabled its interim monetary policy report for 2020 on Monday, shedding light on how it expects the Greek economy and banking system to develop next year.
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EconomyBanking
Alpha Bank Q3 results reflect net profits of 43.8 mln Alpha Bank reported net profits of 43.8 million euros for the third quarter (Q3) of 2020 compared to a net profit of 97.5 million euros in Q2 2020.
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EconomyBanking
Piraeus Bank posts pre-tax losses of 133 mln in 9M Piraeus Bank’s nine-month (9M) results revealed pre-tax losses of 133 million euros compared to pre tax profits of 110 million euros in the relevant period in 2019.
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EconomyBanking
Eurobank net results show loss of 1.08 bln in 9M Eurobank recorded net results of a loss of 1.08 billion euros in the nine-month period (9M) of 2020 compared to net profits of 94.3 million in 9M 2019.
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EconomyBanking
Bridge scheme activated as banks look to avoid second-wave NPL increase The ‘Bridge’ scheme for mortgage subsidies, which will subside up to 90 percent of payments from eligible individuals, has been activated as part of a number of mechanisms to relieve pressure on borrowers hit by the coronavirus pandemic.