Bank failures

Foreign exchange assets of Turkish non-financial companies declined by $813 million from April to stand at $172.6 billion at the end of May, according to data from the Central Bank.

Their FX liabilities dropped by $3.5 billion to $254.1 billion.

The outstanding short and long-term debt of Turkey's private sector fell in February, the country's Central Bank said on April 16.

The private sector's short-term overseas loans, excluding trade credits, were $7.7 billion in February, down by $1.4 billion compared to the end of 2019.

A court in the northern Aegean on Friday handed prison sentences to seven out of 10 people involved in the illegal lending from the now-defunct Cooperative Bank of Lesvos - Limnos, which caused the bank millions of euros in losses.

Addiko Bank emerged from the bankrupt Austrian Hypo Alpe Adria bank, whose Balkan network of branch offices was sold to the Advent investment group and the European Bank for Reconstruction and Development in 2014.Quoting reports by business

Banca Farmafactoring SpA announced on Wednesday that it has completed the acquisition of a portfolio of debt owed by public hospitals in Greece.

The Italian lender has acquired a portfolio of 10 million euros of debt owed by about 100 hospitals and healthcare providers across Greece in a deal that represents the first such transaction in this country. [Reuters]

Greece's corruption prosecutor has brought criminal charges against 30 former executives of the now defunct Agricultural Bank of Greece for approving loans over a 10-year period to the ATTIKAT construction company and a private citizen who did not meet the necessary requirements.

European authorities will prepare by the end of next year enhanced disclosure requirements on bad loans as part of an action plan to tackle the risk of non-performing loans (NPL).

EU economic and finance ministers (Ecofin Council) are expected to adopt today (11 July) a plan to decrease the high level of bad loans held by banks in member states.

The reduction in Greek bank deposits over the first couple of months of this year constitutes a "credit negative" event for local lenders, international rating agency Moody's said.

Moody's noted that January's 1.6-billion-euro decline, which continued in February, is mainly due to the delay in the completion of the bailout review that has damaged the confidence of depositors.

Bank deposits are at their lowest levels since 2001, according to the Bank of Greece (BoG). The figures released by the BoG revealed that deposit outflows of Greek depositors amounted to 1.567 billion euros in January. The amount of deposits in December of 2016 were up by 2.972 billion euros.

Greek private sector bank deposits registered a drop in December after rising in the two previous months, central bank data showed on Friday, with the fall attributed to statistical counting changes.

Business and household deposits fell by 3.42 billion euros, or 2.7 percent month-on-month, to 121.38 billion euros, their lowest level since July 2003.