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Tag Archives: Piraeus Bank

Piraeus Bank staff on 24h strike due to recent layoffs, Dec 5

Piraeus Bank staff will hold a nationwide 24-hour strike on Thursday, Dec 5, 2019, as well as a protest gathering to be held at the labor ministry on the same day.A work stoppage was held on Wednesday. The Federation of Bank Workers’ Unions (OTOE) said the actions aim to protest …

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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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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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Piraeus Bank wins court case against New Democracy for outstanding debts

Piraeus Bank has won a lawsuit against Greece’s main opposition party New Democracy for loans that have not be repaid. A First Instance Court in Athens ruled on Tuesday in favor of the bank that could theoretically proceed with the confiscation deposits and assets of  the conservative party.Greece’ main opposition …

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Greece probes Central Bank governor Stournaras over alleged leak

Greece’s central bank governor is under investigation by an anti-corruption prosecutor over the alleged leaking of an auditor’s report on Piraeus Bank, a troubled Greek lender accused of violating capital controls imposed at the height of the country’s financial crisis. Citing “two sources with knowledge of the case,” , a …

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Piraeus Bank says will respond to central bank audit over regulatory violations

Piraeus Bank said on Monday it will respond to a draft report of a Bank of Greece audit that found regulatory violations during 2014-16 and that a final report by the central bank would follow thereafter. Piraeus shares came under selling pressure last week, prompting the bank to say it …

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Piraeus Bank Chairman sees Trump boost to Greece’s Economy

Donald Trump’s election victory could spark spreading economic growth that lifts Greece out of recession, helping the country’s struggling lenders along the road to recovery, according to Piraeus Bank Chairman George Handjinicolaou. “If the bullish sentiment that currently exists in the U.S. with the election of a new president is …

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New Democracy is one step before going bankrupt after bank claims loans

Greece’s main opposition party, conservative New Democracy, is one step before going bankrupt after one of Greece’s systemic banks claimed its loans. According to newspaper Agora, Piraeus Bank asked the full amount of loans to ND. The total amount is 160million euros, incl. loan €131million plus arrears and surcharges. The …

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Let the Recap begin! ESM releases €2.72bn for Piraeus Bank

The Board of Directors of the ESM decided today to release €2.72 billion to Greece to recapitalise Piraeus Bank. This amount will be subtracted from the €10 billion held in a segregated account at the ESM and designated to cover the Greek banking sector’s potential resolution and recapitalisation costs, part …

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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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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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Greece’s Banks Deal: Piraeus Bank Absorbs Healthy Assets of ATE Bank

Debt-ridden Greece sent a positive message to the Troika, as it announced that the country’s fourth-biggest lender Piraeus Bank took over the healthy assets of state lender Agricultural Bank (ATE). Greece’s lender had been pushing since summer 2011 for ATEbank’s restructure as it was the only bank that had failed to pass …

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Greek Banks First Merger: Piraeus’ Checkmate – Background

 Piraeus Bank, the  fifth-biggest lender in Greece, has submitted a proposal to the Greek government to buy “significant stakes” in two Greek state-controlled banks, the Agricultural Bank of Greece-ATE and the Hellenic Postbank-TTE,  Piraeus Bank CEO Mihalis Sallas announced in a Press Conference in Athens two hours ago. The Greek government …

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