Greek banks performed better than expected in Q4

Posted by Christian J. Hadjipateras 15/02/2018 0 Comment(s) Economia Blog,

Several Greek banks recorded their best quarterly performance in some time, according to the Kathimerini. They are increasing their bad-loan portfolio sales, which helped their results for the final quarter of 2017.

 

An example is Alpha Bank, which increased the content of its “Venus” portfolio from €2.5bn to €3.5bn. The “Arctos” portfolio that Piraeus Bank has put up has also been expanded from €1.5bn to €2.3bn.

 

The major benefit for banks from electronic auctions is not from the liquidation of assets but rather from the threat of property sales, which has resulted in debtors to seek ways of paying off their arrears.

 

In Q4 of last year, local lenders posted a record reduction in NPEs since the outbreak of the financial crisis in 2009, beating the target set by the SSM too.

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