Greece
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NPL's

Bank of Greece: Financial System Remained Resilient Through Pandemic

The Greek financial system remained strong throughout the Covid-19 pandemic, the Bank of Greece stated in its Financial Stability Review.

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...

Piraeus Bank Returns to Profitability, Says CEO Christos Megalou

Piraeus Bank CEO Christos Megalou says that Greece’s largest lender is returning to profitability in an exclusive interview with the Greek Reporter. Speaking at the 20th Annual Capital Link “Invest in Greece Forum” held in New York last week, Megalou...

Piraeus Bank to Quit European Aid in 2018

Piraeus Bank has significantly reduced its reliance on the European Central Bank's Emergency Liquidity Assistance (ELA), and plans to fully eliminate it in 2018, its CEO has told Bloomberg. The bank ends 2017 with NPL stock below €20 billion ($24.4...

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...

Seven Funds Express Interest in Attica Bank's NPLs

Seven funds expressed interest in managing Attica Bank’s mostly businesses' non-performing loans (NPLs), which amount to about one billion euros, according to sources on Tuesday. The same sources said the funds will also invest about 70 million euros to fully...

Finance Issues, Labor Reforms, Settling NPLs Discussed During First Round of Talks With Institutions; New Round Starts November 14

On Thursday, the government concluded the first round of negotiations with the institutions on the second program review, Finance Minister Euclid Tsakalotos said on Thursday, adding the heads of the institutions will return on November 14. According to a senior government...

BoG: Financial Crisis Causing Property Prices to Free-Fall

Property prices are in free-fall, with apartment prices down 41.4% in the 2006-2016 period, Theodoros Mitrakos, vice-governor of the Bank of Greece (BoG) said on Thursday. Addressing a real estate conference, Mitrakos said nominal prices for office space and high-standard...

Private NPLs Exceed Greece's GDP

There is a steep Greek debt in private loans in comparison with the country's GDP, the Greek newspaper Kathimerini reports. According to the news source, as they break it down the numbers are staggering. The amount that totals in expired private...