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The banks index at Athinon Avenue enjoyed a second consecutive day of gains in excess of 4 percent on Friday, building not only on the advance of the Heracles plan for the securitization of bad loans, but also on the upward momentum observed in foreign stock markets. That also led to the benchmark attaining growth just shy of 2 percent.
The Museum of Ancient Eleutherna's temporary exhibition "Cretan Cities: The Testimony of the Coins" showcases Cretan history through a collection of ancient coins. The exhibit, organized by the Ephorate of Antiquities of Rethymno, the University of Crete and the Alpha Bank Numismatic Collection, includes 124 ancient coins and a detailed catalogue in Greek and English.
Greece's four systemic banks have reduced their stock of nonperforming exposures (NPEs) by 15.3 billion euros in the last year, as their financial reports at the end of June showed that their total NPEs stood at 78.8 billion, compared to 94.1 billion a year earlier.
This reduction is the outcome of loan restructurings and settlements as well as the extensive sales of loan portfolios.
The Greek banking system has radically changed over the past two decades. Mergers and acquisitions had already begun in the late 1980s, but it was two significant events 20 years ago that marked the beginning of a process that has led to the consolidation of the country's banking sector in the dominant "big four" (Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank).