Greeks Owning Credit Cards are 60% Less than Before Economic Crisis

The poor creditworthiness of most Greek citizens puts on hold the finance ministry's plans to give incentives for the use of credit cards as...

Four Firms Apply for Red Loan Management License in Greece

Four companies have submitted applications to the Bank of Greece to obtain a license to manage nonperforming loans (NPLs) of households and small businesses,...

Greek Police Crack Down Credit Card Scam

Hellenic Police have arrested 24 people over a scam involving wireless credit card terminals registered abroad, used to dodge capital controls and transfer money...

WSJ: “PCP Capital to Buy Up Greece’s Non-Performing Bank Loans”

In accordance to its last bailout package, Greece has had to put laws in place that make it easier to restructure or reclaim assets...

Standard and Poor’s Upgrades Greek Banks with Cautious Optimism

Greek banks have been dealt an upgrade by the ratings agency Standard and Poor’s (S&P) on Tuesday. The upgrade from the agency for Greek banks Alpha,...

Sallas Announces Retirement as Chairman of Piraeus Bank Group

Piraeus Bank Group chairman Mihalis Sallas on Wednesday announced his decision to retire as chairman of the board after 25 years. Addressing a board meeting,...

Ease of Capital Controls Could Bring €2-3 Bln Cash Inflow to Greek Banks

The proposed plan to ease capital controls could bring an immediate 2-3 billion euros cash inflow to Greek banks if implemented, bank officials estimate. Creditors...

Greece to Recruit Cash Sniffing Dogs to Sniff Out Tax Evaders

  A post on a Greek government website on Wednesday said that the Finance Ministry will be forming a committee to put together a team of specially...

ECB Lowers Cap on Emergency Funding for Greek Banks by 2.5 Billion Euros

The European Central Bank (ECB) lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 2.5 billion...

Bank of Greece Chief Heralds Easing of Capital Controls for New Depositors

The easing of capital controls is so that people who keep their money at home would deposit them to banks, said Bank of Greece...

Greek HFSF Stability Fund Board Members Tender Resignations

Members of the Hellenic Financial Stability Fund have tendered their resignation to be made effective on July 18, 2016. The decision was made so...

Greek Fin Min Promises Easing of Capital Controls

Greek Finance Minister Euclid Tsakalotos announced the easing of capital controls as of next week and said that those who make new deposits in...