MacroPolis

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.

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.

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.

Busy Q2 for securitisations sees rise in bad loans managed by servicers

In the second quarter of the year (Q2), loans managed by Credit Servicing Firms (CSF) stood at 61.75 billion euros, according to data released by the Bank of Greece (BoG) on Thursday.

Hercules APS delivers largest ever quarterly NPE reduction as ratio drops to 21.3 pct in Q2

The Bank of Greece has released the latest data on non-performing loans for the second quarter of the year. It shows the NPE ratio standing at 21.3 pct - a level not seen in several years.

Post-Covid era dawns on new landscape for bad debt in Greece

By: Georgia Nakou

At the peak of the Greek financial crisis, Greek banks had accumulated over 100 billion euros of bad loans. At the time, almost half of their outstanding loan amounts fell into this category, with borrowers falling behind on their repayments or deemed as being unlikely to pay.

Piraeus announces Q1 loss of 407 mln as provisions mount

Piraeus Bank posted a loss of 407 million euros in the first quarter (Q1) as it suffered from impairments arising from Covid and loan securitisation losses.

Alpha Bank announces 800 mln share capital increase; Q1 net loss of 282.2 mln

Alpha Bank reported a net loss of 283.3 million euros for the first quarter (Q1) of 2020 on Monday, bringing forward the publication of its results by several days after announcing on that it would carry out an 800 million euro share capital increase.

Banks tout ambitious NPE plans to return to European mainstream

Greece’s banks have started what was set to be a difficult year for them by winning plaudits for their progress towards meeting tough goals for reducing the stock of non-performing exposures.

BoG sees 4.2% recovery in 2021, re-emphasises need for bad bank

In the governor’s annual report issued on Tuesday, the Bank of Greece maintains its rather positive stance on the Greek economy, while it highlighted the challenges faced by the country’s banking sector.