MacroPolis

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.

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.

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.

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.

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.