Tag Archive | "Bank"

10/31/2014: Front Page: Civil servant bank transfers probed

More than 5,000 civil servants are under investigation for transferring some 1.5 billion euros to foreign bank accounts since 2010, when Greece’s economic crisis erupted, the Administrative Reform Ministry revealed yesterday. Based on ministry data, a… Full News here – Kathimerini English

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10/29/2014: Front Page: Bank results buoy gov’t

Prime Minister Antonis Samaras and Deputy Pre- mier Evangelos Venizelos are to resume talks this week in preparation for the resumption of the troika review, buoyed by the positive results from the bank stress tests on Sunday. The fact that the… Full News here – Kathimerini English

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Greek bank deposits rise for seventh straight month in September

Greek bank deposits rose in September for the seventh straight month, central bank data showed on Monday. Business and household deposits rose to 164.75 billion euros ($ 209.2 billion) from 164.23 billion euros in August, the Bank of Greece said. [Reuters]… … Full News here – Latest News

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Attica Bank puts off cash call vote until next month

Small Greek lender Attica Bank postponed to next month Monday’s shareholder vote on a 434-million-euro ($ 550.5 million) cash call to plug a capital shortfall, saying it needed more time to finalise talks with foreign investors. Shareholders agreed to reco… … Full News here – Latest News

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Greece’s Alpha Bank sheds 21 pct of staff via voluntary exit plan

Greece’s fourth-biggest lender Alpha Bank said on Monday that about 21 percent of its 10,000 employees took up a voluntary redundancy offer the bank launched last month as part of moves to cut costs. Alpha had aimed to cut about 15 to 20 percent of its wo… … Full News here – Latest News

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Alpha Bank launches voluntary dismissal program

Greece’s fourth-largest lender, Alpha Bank on Monday announced that it is launching a voluntary dismissal program as part of cost-cutting efforts, the state-run Athens-Macedonia News Agency said. Employees at the bank have until September 30 to apply for … … Full News here – Latest News

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National Bank top brass optimistic on economy, stress tests

Top National Bank of Greece officials expressed optimism on Friday that the country will emerge from the financial crisis and certainty that Greek banks will grow stronger following the European stress tests. Addressing an NBG event in Thessaloniki, Chair… … Full News here – Latest News

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Central bank takes aim at non-performing loans

The Bank of Greece’s latest code of ethics, aimed at offering solutions to both banks and debtors to deal with nonperforming loans, was approved on Monday by the Credit and Insurance Matters Committee. The list of measures in the code of ethics, which arr… … Full News here – Latest News

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Bank shares on wild ride amid test fears

The overall uncertainty regarding how Greek banks will emerge from October’s stress tests to be conducted on all EU banks has fueled a summer of distress and fluctuation for local banking stocks. Last week, the banks index at the Athens bourse rose 6 perc… … Full News here – Latest News

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Bank of Cyprus sells Romanian hotel stake

Troubled Bank of Cyprus, the island’s largest lender, said on Wednesday it has agreed to sell its stake in Romania’s Marriott Bucharest Grand Hotel to an Austrian firm for 95 million euros. The bailed-in bank said the proceeds will enhance its liquidity. … … Full News here – Latest News

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Ergo to buy Piraeus Bank subsidiary ATE Insurance

Piraeus Bank, Greece’s second-largest lender by assets, has agreed to sell its ATE Insurance business to Ergo Insurance Group, a subsidiary of German reinsurer Munich Re, for 90.1 million euros in cash. “Piraeus Bank has made a significant step forward in… … Full News here – Latest News

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Bad loans cast a heavy shadow on bank recapitalization plans

The results of the European Central Bank’s (ECB) ongoing stress tests on 128 banks across the eurozone, including four Greek lenders, look like they will not be made public for some time yet. The results are officially scheduled to be announced in October… … Full News here – Latest News

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7/28/2014: Front Page: SME minibonds to bypass bank lending

LONDON (IFR) – The first batch of issuance under a “minibond” program that the Athens Exchange Group (ATHEX) has been promoting to finance Greek SMEs is set for launch after the summer break. Greece’s economic recovery is closely linked with the health… Full News here – Kathimerini English

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Pros and cons of a national bad bank

The Greek economy requires years of expansion to reduce its record unemployment rate and raise depressed living standards to pre-crisis levels. Lending to the private sector will have to be normalized to facilitate this process, but this requires that ban… … Full News here – Latest News

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Greek bank deposits drop for a second month in February

Greek bank deposits dropped in February for a second month in a row and private sector lending continued to shrink, central bank data showed on Thursday, with no sign of the credit expansion needed to spur economic recovery this year. Deposits of business… … Full News here – Latest News

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