Greece's banks are secure and adequately capitalised, as demonstrated by the most stringent stress tests recently carried out on a European-wide level, Deputy Minister to the Prime Minister Dimitris Liakos said in opening remarks at the NPL Summit 2018 "NPLs - NPEs and Society" held in Athens on Thursday.
Greek banks raised their dependence from the eurosystem in October to 13.2 billion euros from 12.2 billion in September, the Bank of Greece said in a report released on Monday.
The management of real estate assets held by banks needs efficient solutions, George Kormas, senior general manager in Piraeus Bank and CEO in Piraeus Real Estate said on Friday.
Yiannis Stournaras: Improvement of liquidity situation of Greek banks reflects improved condition of…
"The ongoing improvement of the liquidity situation of Greek banks reflects the improved condition of the Greek financial system.
"Greek banks are in a very good position, adequately capitalized and face challenges that they can cope with. The challenge of non-performing loans is absolutely manageable," Greek Finance Minister Euclid Tsakalotos said on Thursday.
European Commission spokesperson Margaritis Schinas expressed the certainty on Thursday that Greek banks are taking all necessary measures to deal with the issue of the non-performing loans (NPLs), during a press conference in Brussels.
Greek systemic banks are focusing on further promoting cross-sales throughout the range of bankassurance products, bank executives said.
Greek banks significantly reduced their borrowing from the Eurosystem in June, reflecting a significant reduction in the borrowing from the ELA mechanism and lower borrowing directly from the European Central Bank.
The European Commission on Thursday announced it was prolonging a Greek guarantee scheme for credit institutions until 30 November 2018, under EU State aid rules.
The Bank of Greece on Thursday announced a significant reduction of the emergency liquidity assistance (ELA) to Greek banks by 2.5 billion euros.