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Greek banks look to post-pandemic landscape with ongoing bad loan reductions, moratoria easing
EconomyBankingWith Greece’s coronavirus numbers still climbing, Greece’s banking system is continuing with its bad loan reduction plans and an eventual return to normal operations.
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Credit growth in August up by 1.9 pct
EconomyMacroeconomyCredit movement in the Greek private sector rose by 1.9 percent in August after an increase of 1.5 percent in July, Bank of Greece (BoG) figures showed on Friday.
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BoG sees 7.5 pct recession, EU funds boosting GDP by 1.9 pct annually
EconomySpeaking at an online event organised by a local think-tank, Bank of Greece governor Yannis Stournaras presented the central bank’s updated estimates regarding the impact of the pandemic on the economy.
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Banks remain largely profitable in Q2, with focus on NPL reductions
EconomyBankingGreece’s four systemic banks completed the second quarter of the year with relatively stable performance results amid the pandemic.
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Property e-auctions resume after pandemic hiatus as banks focus on NPLs
EconomyBankingProperty e-auctions resumed last week after a six month hiatus due to the coronavirus pandemic as banks hoped to preserve prices for valuations.
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Eurobank net results show profit of 176 mln in H1
EconomyBankingEurobank recorded net results of an adjusted profit of 176 million euros in the first half (H1) of 2020 compared to net profits of 96.7 million in H1 2019.
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Insolvency code, 'second chance' for debtors unveiled as ND eyes social impact of crisis
PoliticsGreek PoliticsThe government has unveiled the draft legislation that paves the way for Greece to adopt a new insolvency code and offer debtors a so-called “second chance” – a move that New Democracy hopes will stave off a major social impact resulting from the long economic crisis, as well as the knock-on effect of the more recent coronavirus pandemic.
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NBG results show net profits of 465 mln euros on strong income
EconomyBankingNational Bank of Greece (NBG) reported a strong net profit of 465 million euros from continued operations in the fιrst half (H1) of 2020, compared to 245 million euros in H1 2019.
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Banks step up securitisation drive following pandemic interruption
EconomyBankingHaving experienced a setback earlier in the year, when the pandemic broke out and led to reconfiguration of the plans on securitisations, Greek systemic banks are accelerating their efforts to catch up for lost time in restoring the health of their balance sheets.
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Piraeus Bank posts pre-tax losses of 215 mln in H1
EconomyBankingPiraeus Bank’s first half (H1) results revealed pre-tax losses of 215 million euros compared to pre-tax profits of 57 million euros in the relevant period in 2019.