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Piraeus Port Authority OKs Agreement with Chinese COSCO

After a Piraeus Port Authority (OLP) general meeting green-lighted the agreement with Chinese company Cosco regarding the latter's new 230-million-euro investment in Piraeus, Greece,...

Greek Banks to Implement Law on ‘Bad Loans’

Greek banks are ready to implement the law on "bad loans." This emerged after today's meeting at the government headquarters between Prime Minister Antonis...

No Surprises in Greek Banks’ ECB Stress Test Results

Three out of four systemic banks in Greece have failed their ECB stress tests. The results aren't entirely devastating, however, since the banks' capital needs...

Piraeus Bank and Alpha Bank Pass ECB Stress Tests

According to market estimates, Alpha Bank and Piraeus Bank passed their stress tests with ease. These estimates remain to be confirmed by an official statement,...

NBG CEO Optimistic Ahead of Stress Tests

Speaking at a conference of the Greek Institute of Internal Auditions on "Internal control in the middle of developments," National Bank of Greece (NBG)...

Citigroup: What Might a SYRIZA Govt Mean for Greek Equities

U.S. based multinational banking and financial services corporation Citigroup is examining what a SYRIZA government might mean for Greek equities, taking in account the...

Alpha Bank Sheds 21% of Staff Via Voluntary Exit Plan

Greece's fourth-biggest bank, Alpha Bank, announced on Monday that approximately 21% of its 10,000 employees will enter a voluntary exit plan that was launched last month, aiming to cut...
National Bank of Greece

NBG Hires Advisers for Sale of Turkish Finansbank

National Bank of Greece (NBG) has hired other banks including Goldman Sachs, Morgan Stanley and Bank of America Corp to work as advisers on the...

European Commission Clears Restructuring Plans of NBG & Piraeus Bank

The European Commission announced on Wednesday that it has found the restructuring plans of the National Bank of Greece (NBG) and Piraeus Bank -...

Six Times More ‘In the Red’ Loans in the Last 5 Years

In September 2013, nearly one in three loans (31.2%) was not paid, while almost one in two borrowers (45.8%) did not pay their credit...

Astir Palace Sold to Arabic-Turkish Group

Astir Palace Resort in Greece was sold for 400 million euros to Saudi Arabian fund ACG, which is allied with the Turkish Dogus Group...

Greece’s NBG Said to Agree on Real Estate Unit Sale

National Bank of Greece, the country’s largest lender, reached an agreement to sell most of its real estate unit in a transaction that values...

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