Tag Archive | "Bank"

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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Greek bill gives rescue fund legal cover for bank capital boosts

Greek banks that are majority-owned by the country’s bank rescue fund HFSF will be allowed to issue new shares to boost their capital at market prices, according to a draft bill that also gives the rescue fund legal cover to see its stakes diluted. The dr… … Full News here – Latest News

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3/12/2014: Front Page: Anti-corruption chief to head Cypriot central bank

NICOSIA (Reuters) – Cyprus’s auditor-general was appointed yesterday to head the island’s central bank, replacing an academic who quit amid acrimony with the government over a chaotic international bailout last year. Chrystalla Georghadji, whose… Full News here – Kathimerini English

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Georghadji appointed new Cyprus central bank governor

Cyprus’ president has appointed Auditor-General Chrystalla Georghadji as the bailed-out country’s new central bank governor. A government statement Tuesday said Georghadji will take up her new post April 11 and that European Central Bank chief Mario Dragh… … Full News here – Latest News

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ECB to keep interest rates low as European economy revives, says central bank official

The European Central Bank will keep interest rates low as the economy picks up because the region’s economic output is still below potential, according to Executive Board member Sabine Lautenschlaeger. “The output gap we acknowledge by our forward guidanc… … Full News here – Latest News

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3/8/2014: Front Page: Bank shares volatile after stress tests

Greek banks saw their share prices swing sharply yesterday after the country’s central bank said they need to raise billions of euros to plug holes in their finances. Late on Thursday, the Bank of Greece said the sector needs to raise 6.4 billion euros… Full News here – Kathimerini English

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