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bad loans

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...

Bloomberg: 'Central Bank of Greece To Cut Bad Debts of Banks in Half'

  The Central Bank of Greece is working on a plan to cut in half all the bad debts that burden  Greek banks, according to a news report published by Bloomberg on Tuesday. This move is expected to strengthen trust in...

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...

Piraeus Bank New CEO Races to Reach Target for Reducing Bad Loans

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...

Bank of Greece Warns About Bad Loans, Expects Rise in Deposits

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...

Ten Former Attica Bank Officials, Employees, Charged With Breach of Duty Over Loans

Ten former bank officials and employees of Attica Bank have been charged with breach of trust against a banking institution by a corruption prosecutor in Thessaloniki for granting loans to insolvent businesses during the period 2010-2011. The file includes four...

Bad Loans Legislation After 'Complex' Consultations Between Institutions and Greek Authorities

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...