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Tag Archives: banks

Erdogan says “They have dollars, we have our Allah,” as Turkish Lira in free fall

Turkish President Recep Tayyip Erdogan tried on Friday all means to save the Turkish lira. he urged citizens to rush to the banks and convert their deposits in dollar, euros and gold into the national currency. “It is a national struggle. It is going to be my nation’s response to …

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Greek households & businesses still keep billions under mattresses or abroad, says BoG governor

The governor of the Bank of Greece, Yannis Stournaras, has said that Greek households still keep their money away from the banking system because they are afraid of their savings. He claimed that 12 to 14 billion euros are under mattresses and that businesses have another 10 billion euros abroad. …

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Capital controls: Greece considers to raise withdrawal cap, measures for businesses

Greece is considering further easing of capital controls with the increase of  the cap for cash withdrawing and limiting restrictions to businesses.  The new measures could be implemented as soon as 1. June, that is on the third year the restrictions were imposed. According to media reports, the new measures …

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Greece’s banks beat target to shrink bad loans, says BoG

Non-performing exposures (NPEs) of Greece’s banks have fallen by €4.7 billion to €95.7bn  or 43.1 percent of banks’ overall loan book, Bank of Greece the data had shown. This compares with a target of 48.5%, or €95.9bn. Greek banks have been under regulatory pressure to tackle the bad debt problem …

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Greece considers buying civil servants’ red loans from the banks, says Economy Minister

The Greek state is considering to buy private red loans from banks at the prices they would sell to collections companies or hedge funds. This was stated by Economy and Development Minister, Dimitris Papadimitriou, in response to a question by opposition MP, Odysseas Konstantinopoulos (PASOK). The MP wanted to know …

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Italian doBank to take on bad loans of 400 Greek SME worth 2 billion euros

Italy’s biggest bad-loan manager, doBank, will undertake the loans of some 400 Greek small and medium-sized enterprises which owe Greek banks a total of 2 billion euros. Greece’s four systemic lenders (Alpha, National, Eurobank and Piraeus) are reportedly in the final stage of talks with doBank, a subsidiary of US …

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Tsipras urges bankers to tell the truth about evictions and dismiss “media Fake News”

“You must inform the society about what we are doing and stop the spreading of  fakes news by the media,” Prime Minister Alexis Tsipras told the board of the Hellenic Banking Association at a meeting in his office on Monday. Tsipras was pointing out at the furore in mainstream media …

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IMF’s projections on Greece’s economy, Fund presses for banks withdrawal from the Balkans

Greek economy is expected to grow by 1.8 pct this year, 2.6 pct in 2018 and 1.9 pct in 2019, the International Monetary Fund (IMF) said on Monday. In its report on European economy, the IMF said it expected a 10.8 pct increase in net investments this year, rising to …

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Greece’s Bank deposits rise in September 2017

The Bank of Greece (BoG) announced that private sector deposits in the country increased by 52 million euros in September, compared to the previous month, reaching 1.047 billion euros in the country. The annual growth rate stood at 4.6 percent on a monthly basis, as capital controls remain in force …

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