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Tag Archives: branches

38,000 employees to “voluntarily exit” Greece’s systemic banks

The landscape of Greece’s four systemic banks is set to change  as 38,000 bank employees will have to make important and difficult decisions about their future: they will have to voluntarily join the exit programs and seek other job opportunities elsewhere. The outsourcing of non-performing loans and the development of …

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Greek banks to close down 800 branches, cut 8,000 personnel

Greek systemic banks are forced to cut 8,000 personnel and close down 800 branches across the country. The Single Supervisory Mechanism of the European Central Bank keeps reminding the Greek banks that they have to proceed with drastic cut of operational cost and thus as soon as possible. It was …

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Pressure works: Alpha Bank revokes decision to close branches on islands

Pressure by the local communities and outrage seem to have brought fruits. Alpha Bank has reportedly cancel its plans to leave three remote islands in the Aegean Sea without banking services and even cash. “The message the islanders sent to Alpha Bank was received,” Dodecanese lawmaker Dimitris Gakis told local …

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Deal sealed: Piraeus Bank buys 3 Cypriot banks units in Greece for €524 million

Greece’s Piraeus bank announced that it will acquire the branches of Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank in Greece for 524 million euro.  The announcement was made Tuesday noon. The branches of these banks will open on Wednesday, March 27th 2013 and all operations will be performed …

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