BANKS

ENGLISH EDITION

Push to solve bad loan problem uncovers more strategic defaulters

Out of the 120,000 loan holders who can potentially seek more favorable repayment terms (on housing, consumer and business loans tied to their primary residence), about half have applied to restructure the debt. However, only 4,000 of them have put together a complete application on this, of which half, some 1,600 applications, have been rejected for exceeding allowable income and asset levels.

17 Φεβ 2020 13:37

ENGLISH EDITION

EIB, National Bank and Piraeus Bank launch 560-million agriculture investment scheme

The new scheme is expected to back 560 million euros of new investment by farmers, agribusiness, food and bioeconomy companies across the country. Agriculture and agribusiness is crucial sector for the Greek economy and key employer in rural districts and regional towns.

15 Φεβ 2020 16:58

ENGLISH EDITION

Impressive results from Alpha Bank bond sale

“Our inaugural Tier II capital transaction is a key milestone in the implementation of our recently communicated strategic plan. The strong demand by a well-diversified international investor base led to this successful outcome, which represents a strong testament to the future of Alpha Bank and the prospects of the Greek economy,” said Alpha Bank chief executive Vassilios Psaltis.

07 Φεβ 2020 13:49

ENGLISH EDITION

Piraeus Bank ups targets, to offload 11 bln euros of bad loans in '20

In a bid to reach these targets, the bank will move ahead with the 5 billion euro Vega securitization project and the 2 billion euro Phoenix project. This means that the target to slash NPLs in 2020 is being increased to 11 billion euros, up from 6.4 billion euros previously.

04 Φεβ 2020 13:50

ENGLISH EDITION

Binding offers for National Insurance expected in May

National Bank disbursed new loans worth 3.0 billion euros in 2019 and expects loan disbursement to move around these levels in 2020 as well, financing enterprises and households. Mylonas said a negative climate has been reversed and that demand for new loans has begun.

24 Ιαν 2020 09:52

ENGLISH EDITION

Talks between Greece, creditors hit snag on state-backed loans

The loans, reaching 3.4 billion euros, were issued prior to the crisis to vulnerable social groups, such as fire and earthquake victims, residents on remote islands, Roma, farmers, and small business owners. Out of the total amount, 2.1 billion euros have gone to individuals and 1.3 billion euros went to small businesses. 

23 Ιαν 2020 14:42

ENGLISH EDITION

National Bank of Greece sees 500 million euro boost

This transaction, from which NBG will record a book gain of 500 million euros, could only be executed with the approval of the Greek state. The extraordinary gains are a bonus for the bank which would not have been otherwise able to move ahead with large securitizations of non-performing loans (NPLs) under the state guarantee Hercules plan. The gains will help also help cover losses connected with the sale of National Insurance.

21 Ιαν 2020 15:13

ENGLISH EDITION

National Bank extends staff exit plan; warns about future offers 

In a letter sent to employees and seen by Business Daily, chief executive Paul Mylonas informed staff that the program will be pushed back to February 10, from the end of December. This will allow for a higher participation rate in the program as many employees had questions about it and how they would be affected by upcoming changes to the social security system.

20 Ιαν 2020 14:45

ENGLISH EDITION

Short-sellers suffer steep losses from Piraeus Bank share rally

Piraeus Bank was considered by many to be the weak link in the country's financial system, but the bank has managed to implement a plan that has gained the confidence of investors. In 2018, it reduced bad loans by a record amount, exceeding its five billion euro target, cut its reliance on emergency ELA funding, boost deposits by 10 percent and lowered operating costs by 7 percent.  

10 Ιαν 2020 12:30

ENGLISH EDITION

Greek banks face major tests in 2020

In 2020, investors will judge the ability of banks to implement ambitious business plans that have been presented and whether they are enough to pave the way for a return to normal conditions for lenders. Twelve months ago, banks were under enormous pressure from many who doubted whether they will manage to get by without large share capital increases.

08 Ιαν 2020 12:42

ENGLISH EDITION

Interest rate spread unchanged in November

The average interest rate on consumer loans with a defined maturity at a floating rate increased by 40 basis points to 10.69%. The average interest rate on housing loans at a floating rate decreased by 7 basis points to 2.84%.

08 Ιαν 2020 08:13

ENGLISH EDITION

FinMin Staikouras announces new effort to slash NPLs in 2020

The finance minister said that the current first residence protection scheme will end in April and a new programme for debt settlement will be implemented. In addition, he announced that a second systemic intervention for the reduction of bad loans (NPLs) will be launched next year.

24 Δεκ 2019 15:02