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Tag Archives: Greek Banks

Federation of employees at Greek banks on 24-hour strike Dec 11

The Federation of unions of Greek banks employees will launch a 24-hour strike across the country on Wednesday, December 11, 2019. The mobilization is the response of the Federation OTOE to the recent lay-off by the Piraeus Bank. On the same day, OTOE will launch a protest outside the Labor …

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Competition watchdog raids Greece’s four systemic banks for the extra charges

Teams of the Greek Competition Committee have raids the headquarters of the four Greek systemic banks (National, Piraeus, Alpha and Eurobank), media report on Thursday. According to state broadcaster ERT TV, the offices of the Greek Banks Association have been raided as well. The raids reportedly aim to find evidence …

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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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Bank of Greece report: Banks credit and Deposits September 2019

In September 2019, the annual growth rate of total credit extended to the domestic economy stood at -0.9% from -0.7% in the previous month, while the monthly net flow was positive at €182 million, compared with a negative net flow of €555 million in the previous month. The annual growth …

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Greek banks: Business and households deposits rise in August

Greek private sector bank deposits rose in August for the sixth successive month, the Bank of Greece said in a press release on Thursday. Businesses and household deposits increased to 139.72 billion euros  from 138.64 billion in June. In August 2019, deposits placed by the general government decreased by €418 …

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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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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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Banks deposits increased in March 2019, says Bank of Greece

Deposits at Greek banks by private households and non-profit institutions increased in the month of March, the Bank of Greece said in its monthly report. Press release by the BoG: In March 2019, the annual growth rate of total credit extended to the economy stood at -0.5% from -1.2% in …

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Bank of Greece’s plan to reduce non-performing loans by €40billion

The Bank of Greece is reportedly drafting a plan to reduce non-performing loans of Greek systemic banks by 40 billion euros. The plan will be included in a Financial Stability report to be released by the end of the week, reports Athens news agency amna on Tuesday citing sources. The …

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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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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 prepares a Bad Bank for red loans worth €20billion

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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“Speculative moves behind stock market pressure,” says Greece’s Gov’t

“Speculative moves” are behind the pressure on the Athens Stock Exchange and the Greek banks, the government said late on Wednesday. Prime Minister Alexis Tsipras hosted an extraordinary meeting with top government officials around economy and financial issues after the dramatic session in the Athens Stock Exchange on  what media …

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Athens Stocks Exchange under pressure, Greek banks in sell off

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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