Tag Archives: banks

Greek banks will be assigned with the role of the big brother and will monitor when a safe deposit box is visited by its owner, respectively the tax payer. The banks will record every move by the box owners and report it to the tax office if and when necessary, …

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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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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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Interest rates will remain low level for a long time and central banks could continue using quantative easing (QE) tools in the future, a study “Monetary policy in a low interest rate world” by the Bank of Greece mentioned on Thursday. The report was presented by Dimitris Malliaropoulos, director of …

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Greek and Chinese authorities investigate illegal payment transactions between a Greek real estate company and Chinese investors who have been targeting residence permission in an EU country via the Golden Visa program. According to Greek media reports on Wednesday, the vice chairman of Greece’s biggest retailer “Jumbo” is investigated for …

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More than eleven thousand properties have come under hammer since the electronic platform for e-auctions went in operation in February 2018. A total of 11,159 debtors’ properties have were auctioned, another 3,776 are expected to be auctions until the end of the year. The list includes 601 houses, 12 hotel …

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Athens Stock Exchange experienced another black day with its General Index to close at 626.17 and loses at -2.43 percent and turnover at 57.89 million euros. Sellers went beyond the banking sector incl all stocks of FTSE25. The losses were recorded despite the upgrade of the Greek banks and the …

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Fitch ratings agency upgraded the long-term issuer default issuer ratings for the four systemic banks of Greece despite the fact that they have come under strong pressure since last week. At the same time, a unit of the Fitch group warns of the risks if the Greek government implements an …

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The Greek government is working on the creation of an Asset Protection Scheme (APS), Finance Ministry officials confirmed late on Thursday. The APS scheme, a bad bank that is, aims to help local banks to get rid of their bad loans totaling 20 billion euros. The idea was submitted by …

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The Athens Stock Exchange is currently under pressure, as banking stocks are under a strong sell off, with Piraeus Bank to be even moving within the limit down, Greek media report short after 12 o’ clock noon on Wednesday. In particular, the General Index recorded losses of 3.45% at 657.66 …

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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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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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As it prepares to exit the program era, Greece has come a long way in the path of economic recovery. It still faces many challenges: high unemployment, weak banks, and uncompleted reforms, the IMF tweeted on Friday presenting the concluding statement that describes the preliminary findings of IMF staff at …

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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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The Greek government’s master plan to restore growth, after it emerges from eight years under harsh bailout conditions this August, revolves around a key factor that could jump start its economy: its banks. Prime Minister Alexis Tsipras will present to his cabinet on Monday at 1 p.m. in Athens the …

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With a not lady-like gesture, Hollywood star and decades-long political activist Jane Fonda urged Greeks to show “the banks and the money-men” an ‘arm of honor!’ In an interview with Greek presenter superstar Eleni Menegaki, Jane Fonda advised Greeks to “stay strong and stand up to tyrants”  and praised them …

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Greece’s four systemic banks- Piraeus bank, Eurobank, National Bank and Alpha bank – have successfully passed the stress tests of the European Central Bank. The stress tests results were published on Saturday and were conducted earlier than for other European banks, because Greece is to exit the bailout program in …

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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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Two groups wearing hoodies smashed the windows of several banks around Kaniggos square in downtown Athens on Thursday morning. According to media reports, the two groups were armed with sledgehammers and smashed the windows of the branches of National and Piraeus bank. The attack occurred at 10 o’ clock in …

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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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