Alpha Bank

The Greek stock market is currently doing balance exercises around 890 points, which is unable to change level as the majority of portfolios remain on hold. In particular, the general index is moving with gains of 0.25% at 893., 66 points.

The Greek State is proceeding with the reissue of the 5-year and 30-year bonds, giving relevant orders to Alpha Bank, Barclays, Citi, Commerzbank and Morgan Stanley.

The information speaks of a possible pumping of 2 billion euros - 3.5 billion euros, where the annual planning may amount to a total of 14-15 billion euros.

Greece is re-issuing its 5-year and 30-year bonds

The Greek State instructed Alpha Bank, Barclays, Citi, Commerzbank and Morgan Stanley as lead managers, to reissue the existing bond maturing in 2026 with a 0% coupon but also to reissue the 30-year bond, maturing on January 24, 2052 with a coupon at 1.875%.

Alpha Bank recorded the highest rise

Greek banks will try to raise funds amounting to about 3 billion euros on the market this year, in a bid to strengthen their capital adequacy and shield their liquidity so that they will be able to support the economy.

The Greek bourse benchmark edged up again on Friday after a mixed session with reduced activity, as bank stocks continued their ascent.

Greek stocks suffered extensive losses at the end of the week, underperforming their peers across most of the continent. While the prospect of the share capital increases in banks takes its toll on the local market in general, the trend for sales was universal, affecting even the majority of small-caps.

Economists at Greek banks expect the economy to contract between 10.5% and 15% in the first quarter of this year, with the extent of the recession to be determined by how long retail stores remain open, they say. However, the economy will stage a strong recovery in the latter half of the year, taking the sum of 2021 well into positive territory.

Italian insurer Assicurazioni Generali is expanding its presence in Greece through two deals, with France's AXA Group and Greece's Alpha Bank, it was announced on Thursday.

As of January, Greek banks will implement reduced installment programs for well-serviced loans of those affected by the pandemic - businesses and households - that had been frozen since last April. 

The announcement came on Tuesday as the nine-month banking "moratoriums" gradually begin to expire at the end of December.