BANKS

ENGLISH EDITION

Bank of Greece favors bad bank solution for NPL problem

The bank's technocrats examined in detail all the alternatives for tackling the problem (maintaining the current strategy of loan securitizations, capital increases, bad bank, etc.) and concluded that creating a single bad bank achieves maximum efficiency, as it also achieves the largest reduction in non-performing loans per unit of capital.

04 Μάιος 2020 07:15

ENGLISH EDITION

Bad loans to rise more than 10 pct; Small businesses send SOS

Participating in the online discussion organized by Tsomokos Digital was George Georgakopoulos, Intrum Hellas managing director, Theodoros Kalantonis, chairman of FPS, Fotis Kourmousis, Special Secretary for Private Debt Management, Panos Paleologos, founder and president of Hotel Brain and Giannis Chatzitheodosiou, head of the Athens chamber of tradesmen.

30 Απρ 2020 15:31

ENGLISH EDITION

Amidst pandemic, Greek banks discover home working and like it

During the emergency working conditions, banks managed in a very short time to transfer a large part of their operations online as more than a quarter of the administrative staff worked from home. According to sources, more than 10,000 laptops were handed out to employees from the four systemic banks.

28 Απρ 2020 14:45

ENGLISH EDITION

The bad scenario for banks scaring investors

Since the beginning of the year, the general index has fallen by 35 percent while the bank index has given up 65 percent. The situation with European and American banks is similar. Losses booked by domestic banks are almost double as the pan-European index of banks has declined by 35 percent while US bank shares have fallen by 28 percent.

22 Απρ 2020 14:27

ENGLISH EDITION

3 + 1 blows to Greek banks from the coronavirus

Bank officials estimate, and hope, that the rebound will be V-shaped, and that the sharp decline in GDP in the second quarter will be followed by a strong recovery as of the fourth quarter of 2020, restoring economies and markets to normal.

06 Απρ 2020 14:25

bank_building

ENGLISH EDITION

Brussels talks aim at giving Greek banks breathing space

Bank officials say that the European Commission appears willing to discuss this issue constructively. Alpha Bank chief executive Vasilis Psaltis told analysts at a conference call on Friday while presenting 2019 earnings, that the DTC issue is important and being constantly monitored.

31 Μαρ 2020 12:58

ENGLISH EDITION

Unprecedented moves shield banks from pandemic

The European Central Bank has fully shielded the banking system in terms of liquidity, bad loans, and capital adequacy, while the European Commission has suspended several regulations to prevent any additional state aid measures from having an impact on shareholders, bondholders, and depositors. Greek bank shares, despite yesterday's gains of 17.84 percent, may have plummeted 60 percent since the beginning of the year, but the current crisis for Greek lenders is very different from what we have experienced in recent years.

27 Μαρ 2020 14:23

ENGLISH EDITION

Hercules bad loan plan gets nod from SSM in major boost for banks

Bank of Greece governor, Yannis Stournaras, met with the heads of the country's lenders on Monday and briefed them on the positive outcome of talks on the issue. This is seen a being a major development for the sector as it opens the path for the sale of large-sized securitizations of bad loans within the framework of the Hercules plan that will offer state guarantees on senior tranches, once conditions in the market return to normal.

17 Μαρ 2020 13:02

ENGLISH EDITION

Healthy businesses facing liquidity squeeze set for lift

Τhe central bank's main goal is to prevent one of the biggest risks posed by the new turmoil to the global economy from the coronavirus epidemic: to find and healthy and sustainable businesses suffering liquidity problems, that may otherwise reduce their operations, or even shut down, due to the deteriorating conditions.

14 Μαρ 2020 10:36

bank_building

ENGLISH EDITION

Greece updates Hercules plan on make-or-break detail

The move aims to meet demands made by the European Central Bank (ECB ) calling for additional guarantees to be provided for the securitized assets to carry a zero risk weighting amidst resistance from Greece to put up cash to meet this condition. Above all, the updated plan aims to solve a crucial technical problem: avoid triggering the negative pledge clause included in Greek government bonds in a development that could have serious consequences for the economy.

05 Μαρ 2020 13:40

ENGLISH EDITION

No white smoke from ECB on Hercules plan

Despite expectations from government officials that the issue will be soon settled, the SSM has yet to reply to a request from Greek authorities calling for the bonds from the securitized asset to carry a zero risk factor. The ECB understands the position that Greek banks are in but there are mixed views on this in Frankfurt, with some insisting that rules be strictly applied to all.

24 Φεβ 2020 13:36

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