Greece

The European Commission approved on Thursday a Greek plan to reduce its bad loans at the country's banks by up to 30 billion euros ($33.04 billion), saying that the proposal did not violate state aid rules. The plan, known as...

Piraeus Bank, the leading lender in Greece, announced on Monday it has teamed up with Sweden's Intrum for the management of its 27-billion-euro ($30 billion) bad loan portfolio. The agreement, which, according to the Bank, will provide a boost in...

The high level of bad loans in Greece is still the largest economic issue that the embattled nation needs to focus on, the head of Piraeus Bank told the American television network CNBC on Monday. Christos Megalou said that there...

Non-performing loans (NPLs) fell in 2017 and credit risk is down compared with previous quarters, but a further decline will depend on developments in Greece's macroeconomic data, the Bank of Greece has said. The central bank asked Greek banks to review...

Cyprus needs to make reforms to cut the number of bad loans in the island's troubled economy, the IMF has said. A post-bailout monitoring team from the IMF was in Cyprus for the second half of March and recently filed...

International pressure to make Greece's biggest banks increase their provisions against bad loans has seen the country's major institutions take up billions of euros in cover. A report by Bloomberg on Tuesday revealed that Alpha Bank, Eurobank, the National Bank...

The Greek economy is recovering, the stability programme is ending in August and a gradual loosening and lifting of capital controls is expected, Daniele Nouy, the chair of the Supervisory Board of the European Central Bank, said on Thursday. Addressing...

Non-performing bank loans (NPLs) are a constant threat to the eurozone's banking system and a new report by the European Commission shows Greek institutions own almost half of them. According to Friday's data released by the EU Commission and the...

The banking system is still susceptible to external financial dangers, the Bank of Greece (BoG) warned in a review of the Greek financial sector released this week. Although Greek banks have significantly strengthened in the January-September 2017 period, they must...

Greece received some relatively good economic news this week from the OECD, coming hot on the heels of recent revelations the struggling country was first among 35 nations for tax hikes in 2016. The OECD’s economic report for Greece on...

Christos Megalou, the new chief executive officer of Piraeus Bank SA is trying to make up for lost time, says a report in Bloomberg. Megalou must offload 4 billion euros ($4.6 billion) in bad loans by the end of the...

Greek bank deposits are expected to rise in 2017, the Bank of Greece (BoG) said in its Financial Stability Report released on Tuesday. In the same report, the BoG warned that despite positive prospects, the outstanding sum of non-performing loans...

Greek banks made progress in tackling bad loans in the first quarter, according to Bank of Greece data released on Tuesday. However, nonperforming corporate, housing and consumer loans accumulating during the crisis year continue to account for more than half of...

Bank sources have said that non-performing loans (NPLs) have grown as much as 2 billion euros since the beginning of 2017, ekathimerini.com reported. This growth in NPLs has left Greek banks in a position where they are now trying to write-off...

Greece's legislation on bad loans is a result of "complex" consultations between the institutions and the Greek Authorities, European Commission spokesman Margaritis Schinas said on Monday. During a press briefing in Brussels, Schinas was asked to comment on reports according...