Annual results show that after a difficult 2015, growth of non-performing loans (NPLs) has slowed at Greece's four biggest banks, which all expanded their capital cushions and reduced their dependence on the Eurosystem funding mechanism in the year.
The banks all posted losses in 2015, amid rising charges on NPLs. Of the four largest Greek banks three – Eurobank, Alpha Bank and National Bank of Greece (NBG) – ended 2015 with larger losses than in 2014. The fourth, Piraeus, showed a slight €84m improvement compared with the previous year, but this can be attributed to the difficult 2014 it endured, when it ended the year with €3.01bn in losses, far more than NBG, Alpha Bank or Eurobank.
