Eurobank

Greek Finance Minister Yannis Stournaras was scheduled to meet with Fairfax Financial Holdings founder and chief executive Prem Watsa [photo] on Friday.

A group led by Watsa's Canadian company became the anchor investor in Eurobank’s recent 2.8 billion share capital increase.

Greece’s biggest lender by assets, National Bank (NBG), reported higher-than-expected profit in the first quarter, helped by lower funding costs, its Turkish unit Finansbank and reduced provisions for bad loans.

The group posted net earnings of 181 million euros in January to March, its sixth straight profitable quarter.

Greek lender Attica Bank has hired advisers to look for an investor to take part in a planned equity offering, as it becomes the fifth of the country's banks to tap international markets to plug a capital hole, it said on Tuesday.

By Yiannis Papadoyiannis

The effective tackling of nonperforming loans, getting credit expansion moving again and completing the return of the banking sector to private hands are the three main objectives of local lenders following the successful completion of the second stage of their recapitalization.

The local benchmark’s third day of gains on Thursday showed that traders are optimistic Sunday’s elections will not have a significant impact on the country’s financial life, while some expect Fitch to upgrade Greece’s rating on Friday.

The Greek Euroboank, which owns 100% of Bulgaria's Postbank, has new majority owners, said the bank in a press release. 

By Dimitra Manifava

Investments amounting to 37.6 billion euros have come to Greece since the change of government in June 2012, Development Minister Costis Hatzidakis announced on Wednesday, citing a survey by the Center for Planning and Economic Research (KEPE).

Fitch Ratings announced on Tuesday it has affirmed the long-term issuer default ratings of National Bank of Greece, Piraeus Bank, Alpha Bank and Eurobank at B- with stable outlooks.

[Reuters]

By Yiannis Papadoyiannis

Fairfax Financial Holdings founder and chief executive Prem Watsa has expressed optimism to Kathimerini regarding the course of the Greek economy and said he was impressed by government efforts to improve conditions in the country.

 Return to normal conditions may take longer than many businesspeople and other professionals think

By Dimitris Kontogiannis