Alpha Bank

Alpha Bank's management has designed a strategy to reduce nonperforming loans and transform the group so that it can "turn the page," the lender's CEO Vassilis Psaltis tells Kathimerini, stressing that the Greek economy is on a steady growth path and that the international investment community is regaining faith in the country's prospects.

The management at Alpha Bank is targeting the full restoration of the lender's profits and has drafted a strategic plan aimed at streamlining its financial figures through the securitization of bad loans worth up to 12 billion euros.

Imported concerns about the US-Chinese trade negotiations weighed on the Greek stock market on Wednesday, on the back of the release of Alpha Bank's third-quarter results on Tuesday and ahead of Thursday's results by National and Eurobank.

Part of the Petalioi island complex, off the coast of Evia, is to be auctioned off on Wednesday at a bargain price.

Alpha Bank has put up 50 percent of Petalioi Estate SA for sale with a starting price of 2.7 million euros. This share of the company belongs to Maris Empeirikos who owes Alpha 1 million euros.

Alpha Bank on Tuesday reported lower third-quarter profits after higher bad-debt provisions and said it would launch a big securitization of soured loans to clean up its balance sheet.

As daily turnover at Athinon Avenue fell to its lowest in a month on Friday, stocks reverted to a downward course, partly due to the absence of any changes in the MSCI Greece index as expected on Thursday, along with the rise in Greek bond yields.

Alpha Bank is awaiting binding offers from three short-listed investors for the concession of its nonperforming corporate loan portfolio dubbed "Neptune," testing investor interest in the largest portfolio of secured corporate loans put up for sale by a Greek lender to date.

The banks index at Athinon Avenue enjoyed a second consecutive day of gains in excess of 4 percent on Friday, building not only on the advance of the Heracles plan for the securitization of bad loans, but also on the upward momentum observed in foreign stock markets. That also led to the benchmark attaining growth just shy of 2 percent.

An Athens court on Wednesday cleared former president of Lambrakis Press Group (DOL), Stavros Psycharis, and 10 executives of Alpha Bank of charges concerning loans he was granted to the tune of 45 million euros to purchase shares in DOL.

A court is expected to decide on the fate of the former president of Lambrakis Press Group (DOL), Stavros Psycharis, and 10 executives of Alpha Bank after a prosecutor recommended their acquittal on Friday over loans he was granted to the tune of 45 million euros to purchase shares in DOL.