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Tag Archives: Eurobank

Eurobank to buy Piraeus bank subsidiary in Bulgaria

Greek bank Eurobank Ergasias said on November 7 that it reached an agreement to buy the Bulgarian subsidiary of fellow Greek lender Piraeus Bank for 75 million euro. The acquisition would be done by Eurobank’s Bulgarian unit, Postbank, and is expected to close in the first quarter of 2019, subject …

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Greece’s Eurobank raises €500mln with covered bond issue

Greek lender Eurobank issued its €500 mln covered bond attracting more than € 1bn in bids. In a statement the Eurobank underlined the “successful issuance of covered bonds amounting to €500m” and said: Eurobank successfully concluded yesterday a €500m. new covered bond transaction (bond or covered bond). A series of …

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Eurobank to sell €1.5bln bad loans to Swedish hedge fund Intrum

Eurobank , Greece’s third largest lender, said  it will sell a 1.5 billion euro pool of non-performing loans to Sweden’s Intrum, as part of efforts to reduce its load of sour debt and meet targets agreed with regulators. Greek banks are burdened by soured loans clogging up their balance sheets …

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Trump position ‘a catalyst’ for EU-IMF differences on Greece

The position adopted by U.S. President Donald Trump will be key in resolving EU-IMF differences over Greece, top European analyst Daniel Gros told the Athens-Macedonian News Agency (ANA) on Wednesday. According to Gros, who is the director of the influential Centre for European Policy Studies (CEPS) think tank based in …

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Canadian Fairfax buys Greece’s 3rd largest insurer Eurolife from Eurobank

Toronto-based Fairfax bought 80% of Greece’s third largest insurer Eurolife that sells insurance products through Eurobank, where Fairfax holds a stake. It is the second acquisition announcement today, after Qatar National Bank announced it acquired Turkish Finanzbank from the National Bank of Greece. “After riding out the Greek banking crisis …

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Greek media: All four Greek systemic banks ask for ELA funding

A third bank, Piraeus Bank, requested for Emergency Liquidity Assistance (ELA) on Friday, after the Eurobank and Alpha bank, Greek media report on Saturday. Citing sources from the banking sector, Greek media report that all four systemic Greek banks have submitted requests for ELA funding from the Europeran Central Bank, …

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BoG confirms “two banks requested ELA funding” – Which banks…

Bank of Greece sources confirmed to several media that two Greek banks made a request for Emergency Liguidity Assistance (ELA) funding from the Bank of Greece in December. However, they did not confirm the amount of liquidity that it was asked, neither did they disclose the names of the banks. …

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Gikas Hardouvelis: who is Greece’s new Finance Minister?

Two seem to be the key features of Greece’s new Finance Minister Gikas Hardouvelis: that he knows the euro mechanism and he knows the banks.  Hardouvelis is a professor of Finance & Economics at the University of Piraeus and Cheif Economist and Director of Research at the EUROBANK. He served …

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National Bank – Eurobank merger stopped; shares plunge -30%

The news fell like a bomb on Sunday night: that the much praised National Bank (NBG) – Eurobank merger was stopped by Greece’s international lenders, the Troika of EU, IMF and ECB representatives. Greek media reported that the Troika had objections about the size of the new bank to have emerged from …

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