Ομιλία του κ. Γκίκα Χαρδούβελη στο Γ’ Συνέδριο Προσομοίωσης ΕΚΤ στην ΤτΕ

Abstract: Greek banks have been in crisis for a long time, losing twice ~100% of their stock value, once in February 2012 (due to the PSI) and then in November 2015 due to the BRAVADO recession The Greek political irony: Center-right governments nationalized the banks with borrowed (mainly) European funds, and subsequently a leftist government privatized them Now banks are pressed to quickly shed their NPEs under two major constraints: 1)Regulatory constraint: Capital reduction due to NPE reduction may hit the regulatory CET1 lower bound 2)Private Investor constraint: Profitability reduction due to higher provisioning may become negative and trigger DTC DTC is the little-advertised success story of the Fall 2014 government Risks are contained yet profitability under pressure due to stricter regulation, technology and competition Greek banks like their European counterparts face a profitability challenge and stiff competition from Big Tech.

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