Greece
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non-performing loans

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...

EU Warns of "Potential Instability" in Greek Banking Sector

Valdis Dombrovskis, Vice President of the European Commission, warned on Sunday of "potential instability" in Greece's recovery due to its increasing amount of non-performing loans (NPLs). In an interview with the Athens News Agency, the EU official explained that the mountain...

Greece's Eurobank Buys Out Property Firm in €780 Million Deal

Greece’s third-largest lender Eurobank announced a deal on Sunday to buy Grivalia Properties in an effort to boost the bank’s capital and speed up the reduction of bad loans. The Athens News Agency says that the 780 million euro ($886...

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...

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...

Greece has to Implement 82 Prerequisites for Successful Bailout Review

Greece has to implement 82 "difficult" prerequisites in order to successfully complete the third and fourth review of the bailout program, a Kathimerini newspaper report says. The Supplemental Memorandum of Understanding, and the technical memorandum accompanying it, has specified in...

Online Foreclosure Auctions in Greece to Begin Wednesday

The first ten electronic foreclosure auctions will be held on Wednesday, following the decision of the General Assembly of the Athens-Piraeus Notaries to suspend their abstention from duty. Notaries had abstained from their duties for weeks, after receiving threats from...

5,000 Greek Properties Under the Electronic Auction System by End of 2017

Despite the SYRIZA-led government’s promises that no house will be repossessed and sold by the banks, the new system of online real estate auctions will begin in September. Electronic auctions will take place every Wednesday, Thursday and Friday and with...

IMF: Greece Must Implement Measures in 2019 and Countermeasures in 2023

The International Monetary Fund report on the Greek debt sustainability says that fiscal measures should be implemented earlier and the countermeasures not earlier than 2023. If the countermeasures are applied from 2019 to 2021, then the primary surplus for those...