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Tag Archives: banks

Corinth Canal to reopen for shipping in July following repair works

The Corinth Canal will reopen for ships in July, the Hellenic Corporation of Assets and Participations SA (HCAP) said on Wednesday. The reopening will be temporary, though, over the summer and will shut down again for a few months in autumn in order to complete repair works and stabilize the …

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Agricultural Minister urges banks to increase funding of primary sector investments

Greece’s Agricultural Minister has urged banks to increase the funding of primary sector investments. Speaking at the annual AgriBusiness International Forum in Athens, Agriculture Development & Food Minister Spilios Livanos told the banking sector that it should assume its responsibilities. “It would be a historic mistake if the banking system …

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Greece exposed to increased risks from climate change, says ECB-ESRB report

Banks in Greece, Spain and Portugal face increased risks from the climate change, according to a joint report by the European Central Bank (ECB) and the European Systemic Risk Board (ESRB) published on July 1. Greece and other southern EU countries are exposed to increased risks, on the one hand …

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Household and corporate deposits soar during Greece’s lockdown

Household and corporate deposits jumped 19.6 billion euros during the pandemic, showing that the freeze on consumption combined with the state support measures served as a safety cushion for liquidity in the private sector. The additional cash flow during the successive lockdowns will be the driving force behind the economy’s …

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Obama’s memoirs: The Greek debt crisis, German and French banks

In his memoirs, “A Promised Land,” former Us President Barack Obama makes also some reference to the Greek debt crisis and the way in which the major European powers chose to deal with the situation. In his memoir that was released on Tuesday, Obama writes: “I noticed that they rarely …

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Greek banks extend suspension of loan payments for businesses & individuals

Greek banks, members of the Hellenic Bank Association, on Tuesday announced the extension of measures to support enterprises and individuals hit directly and indirectly by the pandemic crisis and of a moratorium on debt payments until December 31, 2020. In an announcement, the banks said they remained steadfast on the …

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Greek banks raise limit for contactless card payments without PIN

The Hellenic Association of Banks announced on Thursday that the banks increase the limit for contactless payments with debit, credit cards and prepaid cards without using PIN. The limit is raised from 25 euros today to 50 euros. The measure will be implemented from Monday, March 30 until Sunday May …

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Greek Banks restrict several transactions at the counter due to COVID-19, lockdown

The Hellenic Association of Banks has decided to impose a series of measures to restrict contact between customers and the staff of the banking sector. The Association urges customers to make use of e-banking and their credit or debit cards at ATMs, as several trasnactions are suspended at the counters …

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Competition watchdog confirms raids to banks, Bank Association

Greece’s Competition Committee, an independent authortity, confirmed on Friday that it had raided all the country’s major banks a day earlier as part of an investigation into collaboration between lenders. Inspectors raided the head offices of National, Piraeus, Alpha, Attica and Eurobank, along with the offices of the Greek bank …

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Greek banks withdraw part of the extra charges for customer services

One after the other, the four Greek systemic banks announced the withdrawal of part of the extra charges for customer services that used to be free of charge. The National Bank, the Piraeus Bank, the Alpha Bank and the Eurobank declared that they will not charge a fee for the …

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Greek banks may review their new extra charges policies for transactions

Greek bankers have committed themselves to review their extra charges policies on a series of transactions following a meeting with Prime Minister, Kyriakos Mitsotakis, on Thursday. Citing government sources, media report that the prime minister told bankers that the government cannot accept extra charges on digital and other bank transactions, …

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Hellinikon Investment: Mammoth loan from recapitalized Greek banks

A “mammoth” bank loan is still due before the Hellinikon investment project can proceed with works after it overcomes the last bureaucratic hurdles and all decisions by ministries and other public bodies give the green light. The Hellenic Development consortium consists of Lamda Development, China’s Fosun and Abu Dhabi’s Eagle …

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Outlook for Greek banks remains positive, says Moody’s report

The outlook for Greece’s banking system remains positive on expected improvements in banks’ funding and asset risks, Moody’s Investors Service said in a report released on Monday. “Moody’s expects more deposit growth and a gradual fall in problem loans,” said Nondas Nicolaides, VP-Sr Credit Officer at Moody’s. “Banks should remain …

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Greece’s banks to reduce €50million of bad loans by 2021, says bank CEO

Greece’s four systemic banks plan to reduce the non-performing loans between now and 2021 by 50 billion euros ($ 56 billion), the CEO of Piraeus Bank, told CNBC on Tuesday. In the case of Piraeus, the aim is to reduce the NPLs by 15 billion euros until 2021, CEO Christos …

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Greece’s gov’t spokesman: “There is no banks recapitalization scenario”

Greek Government spokesman Dimitris Tzanakopoulos dismissed alleged leaks to the press over the banks’ capital adequacy as “journalistic distortion and scaremongering”. In an interview with 24/7 FM on Monday, Tzanakopoulos said “These leaks did not start from any statements by (government vice-president Yiannis) Dragasakis. These are a figment of some …

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