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Greece

Bank of Greece Presents Plan to Slash Non-Performing Loans by 47%

Τhe Bank of Greece on Thursday presented a plan to reduce Greek banks' non-performing loans by up to 47 percent. Greek banks currently hold the highest level of such loans in Europe. The non-performing loans are a huge burden for banks...

Stournaras: Greece Needs to Urgently Address Non-Performing Loans

About one in six businesses in Greece are late in payments, Bank of Greece Governor Yannis Stournaras said on Thursday, addressing an audience at the Federation of Industries of Northern Greece (FING) in Thessaloniki. Stournaras said it is urgent to...

Banks Concerned About January's Spike in Non-performing loans

Banks are becoming increasingly concerned about Greece's sudden rise in new bad loans since Janauary of this year. Banks sources have reported that the spike in January contrasts drastically the path that financial institutions thought the country's non-performing loans (NPLs)...

Non-Performing Loans at Greek Banks Receive Boost by Lenders

According to sources, four systemic banks in Greece recorded new non-performing loans (NPLs) provisions in Q2, showing a significant increase from Q1. The four banks of Piraeus, National, Alpha and Eurobank all recorded provisions by lenders of some 1.04 billion...

Tsakalotos and Dombrovskis Address Issues of Non-Performing Loans and First Home Protection

The Greek government and the institutions are seeking an honest compromise on the issue of non-performing loans, Finance Minister Euclid Tsakalotos and Vice President of the European Commission, Valdis Dombrovskis said on Monday. Speaking to reporters, after the meeting, Dombrovskis...

WSJ: "PCP Capital to Buy Up Greece's Non-Performing Bank Loans"

In accordance to its last bailout package, Greece has had to put laws in place that make it easier to restructure or reclaim assets to get rid of defaulted financial loans more quickly; something in which foreign investors are...

EU Approves Greece's Plan to Reduce Bad Loans

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, Intrum Join Forces to Tackle Greece's Bad Loans

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...

Piraeus CEO: Greek Banks to Significantly Reduce Bad Loans by 2021 (VIDEO)

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...

Bank of Greece Says Bad Loans Declined in 2017

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...

Stress Testing for Bad Loans Hits Greek Banks

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...

Bad Loans Threaten Greek Recovery, Says ECB

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...

EU: Greece has Almost Half of Eurozone's Bad Loans

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...

Bank of Greece Issues Warning on Bad Loans

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...

Attica Bank Sells Non Performing Loans Portfolio

Non-systemic Greek lender Attica Bank has announced the sale of a non-performing loan (NPL) portfolio, a development that was approved by the Bank of Greece (BoG), its regulatory overseer. According to an announcement, Artemis Financial Sarl, which is controlled by...