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EconomyBanking
NBG posts net loss of 423 mln in Q4; profit of 38 mln in 2020 National Bank of Greece (NBG) reported a net loss of 423 million euros in the fourth quarter (Q4) of 2020, compared with a profit of 101 million euros in Q3.
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EconomyBanking
Alpha Bank posts net profit of 103.7 mln in 2020 Alpha Bank reported a net loss of 29.7 million euros for the fourth quarter of 2020 compared to a net profit of 44.3 million euros in Q3.
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EconomyBanking
Piraeus announces transformation plan amid 2020 loss of 662 mln Piraeus Bank posted a loss of 662 million euros last year as it suffered from impairments arising from Covid and one-offs loan securitisation losses.
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EconomyBanking
Banks intensify balance-sheet clean up with securitisations, new bonds Piraeus Bank and Alpha Bank are both moving forward with actions this week to continue strengthening their balance sheets, with the former extending its ongoing partnership with Swedish loan servicer Intrum AB.
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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.