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Hellenic Postbank Scandal will Cost Greek State About 500 mln Euros

The total losses suffered by the State from the TT Hellenic Postbank scandal in the period from 2006 to 2012, when its administration issued bad loans before its liquidation in 2013, is estimated at 500 million euros, according to...

Appeals Justices Order 35 to Stand Trial in Postbank Bad Loans Case

The Appeals Justices' Council ordered 35 people, on Tuesday, to stand trial for bad loans issued by TT Hellenic Postbank before its liquidation in 2013, including the bank's former head Angelos Filippidis. In their indictment, the justices said that all...

Griveas-Vatsika Released On Bail for Hellenic Postbank Unsecured Loan Case

Kyriakos Griveas and his wife Anastasia Vatsika were released on conditions on Monday after testifying to the examining prosecutor for Corruption Giorgos Andreadis in relation to the Hellenic Postbank unsecured loans case. Following a unanimous decision by the examining investigator and...

Greece Presses Postbank Prosecution

The Greek government said it continues to crack down on corruption by arresting financial officers, businessmen and their associates in the latest scandal involving a Greek bank that provided hundreds of millions of euros in unsecured loans. The government arrested...

Hellenic Postbank Fugitives Caught in London

British authorities said that Kyriakos Griveas and his wife Anastasia Vatsika, who were subjects of a worldwide hunt and being sought with the help of Interpol as Greek officials said they had absconded with as much as 17 million...

Varotsis Released for Postbank Fraud

Hellenic Postbank (TT) executive, Marios Varotsis was the first to be released after submitting his written statement. He is among 30 defendants arrested so far in the case of bad loans. Varotsis was released on condition that he post's bail...

Former Postbank CEO in Turkish Prison

Angelos Filippides, Greece's former CEO of Hellenic Postbank (TT) has been held in the Turkish prison of Maltepe since Saturday noon. He was arrested on Friday night in a hotel in Taksim Square, Istanbul, on an international warrant, in relation to...

Hellenic Postbank-Eurobank Deal Done

The deal to sell the troubled New Hellenic Postbank to Eurobank has been agreed upon. The Hellenic Financial Stability Fund (HFSF) said the procedure was finished on July 16 with the signing of a bonding agreement. The decision was taken...

Eurobank Acquires Postbank Too

The troubled private bank Eurobank is expected to take over the more troubled state financial institution Hellenic Postbank, the country's banking stabilization agency HFSF said. The new operation will be called New Postbank (NTT). The HFSF and Eurobank will cooperate...

Greece Will Sell Troubled Proton, Postbank

Two of Greece's shakiest banks, Hellenic Postbank and Proton, will have to be sold by mid-July as the  country's largest banks continue gobbling up smaller institutions as part of plans to help the beleaguered economy begin to recover, envoys...

Four Banks Make Non-Binding Offers for Hellenic Postbank

Three of Greece's largests lenders and a smaller bank made non-binding offers to acquire the healthy assets of the country's state-controlled TT Hellenic Postbank SA (TT.AT), a banking official familiar with the process said, as regulators move to wind...

Facing Collapse, Greece's Postbank to be Privatized

Hellenic Postbank, a small state-controlled lender, is insolvent, Finance Minister Yiannis Stournaras said, and must be sold or transferred to private investors. It was a big lender to the government, which last year imposed 74 percent losses on investors,...

Greek Convicted Bomber Released from Jail

Jailed 25-year-old Nikos Romanos, in prison for attempted robbery and planting a bomb outside the house of a former minister, among others, was released on Wednesday on good behavior after serving six years in jail. Romanos was convicted in 2013...

Greece's Eurobank to Maintain Balkan Subsidiaries

Reuters has reported that Eurobank will maintain its Balkan footprint in Bulgaria, Serbia and Cyprus after pulling out of Romania, its deputy CEO said on Tuesday, expecting the group's subsidiaries there to double their profitability over the next few...

Eurobank to Take Over Alpha Bank Branches in Bulgaria

Eurobank, one of Greece's biggest banks, will take over the business of another major Greek bank, Alpha Bank, in the neighboring Balkan country of Bulgaria. Eurobank's subsidiary, Postbank, will buy the Bulgarian branches of Alpha Bank's subsidiary, Alpha Bank Bulgaria. Postbank will reportedly take...