Most banks near end of action plans but Piraeus is still lagging

The restructuring plans that domestic lenders have agreed with the European authorities are approaching completion, as all actions provided will have to be implemented by the end of next year.

The systemic banks are moving ahead with the concession of their subsidiaries in Southeastern Europe and elsewhere, as well as the sale of hotel units, real estate companies, insurance firms and other holdings.

Alpha and Eurobank have almost finished their entire plans, while National has fulfilled some 85 percent of the pledges it had undertaken. Piraeus Bank will have to pick up its pace as it is lagging somewhat in the implementation of its restructuring plan, which is also attributed to administrative changes at the lender last year: Piraeus operated under temporary management for about 10 months last year. Now, with its new managers in place, it is hastening to complete the...