Piraeus Bank

Even as the Greek government touts a coming primary surplus and predicts the beginning of a recovery next year, The Governor of the Bank of Greece Giorgos Provopoulos said he expects the country's deep recession, now in a sixth...

The National Bank of Greece, following the lead of Piraeus Bank, said it's going to reduce its workforce through the voluntary departures of 2,000 employees in a bid to cut its operating costs and boost its profits even more, helped...

The National Bank of Greece decreased business loans interest rates by 1.5 percent. A relevant decision is expected to be taken regarding other kinds of loans, while Piraeus Bank and Eurobank also proceeded to the same reductions on interest...

Already struggling despite a 50 billion euros ($65 billion) government recapitalization, Greek banks are being squeezed by the European Union to reduce their operating costs, which means layoffs of workers when the unemployment rate is already a record 27.9...

With the Greek government moving to recapitalize and stabilize banks, Prime Minister Antonis Samaras told the heads of the four biggest financial institutions that they should start lending against to to help ease the shortage of liquidity and boost...

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's Piraeus Bank, whose Chairman, Michalis Sallas, has been accused of questionable activities and is set to make a huge profit out of the country's coming bank recapitalization -  has raised nearly double the amount of money needed to...

Greek lender Piraeus Bank has purchased Millennium Bank Greece (MBG), a subsidiary of Millennium BCP (BCP), following the receipt of all concerned regulatory approvals. BCP has recapitalized MBG by infusing €274m, apart from €139m already pumped by BCP into MBG...

Piraeus bank announced the completion of its offer to repurchase its outstanding preferred stocks and subordinated debt securities. Standard & Poor΄s Ratings Services announced yesterday it has raised to ΄CC΄ from ΄D΄ its issue ratings on its non-deferrable subordinated notes...

Fitch Ratings has upgraded National Bank of Greece΄s, Piraeus Bank΄s, Alpha Bank΄s and Eurobank Ergasias΄ Long-Term Issuer Default Ratings to ΄B-΄ from ΄CCC΄, Short-term IDRs to ΄B΄ from ΄C΄ and Viability Ratings to ΄b-΄ from ΄f΄. The agency has also...