JP Morgan

Mitsotakis’s meeting with JP Morgan’s strong man Jamie Dimon

U.S.-based multinational banking and financial services company JP Morgan on Sept. 1 revised its estimate for Turkey's economic growth for 2021 from 6.8 percent to 8.4 percent.

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According to a report published by the firm, the Turkish economy continued to grow "at full speed thanks to robust domestic demand and surging export demand in the second quarter."

JP Morgan expects a new Greek entry into the markets in the coming weeks, either through the issuance of a new reference bond (5-7 years) or through the opening of bid books for existing securities (10 years), proposing a partial profit in view of the new offer of securities.

Turkey's capital markets watchdog imposed fines totaling 26.4 million Turkish liras ($3.25 million) on 10 foreign financial firms for unlawful short-selling transactions.

According to a Capital Markets Board (SPK) statement, Credit Suisse Securities Europe Limited was fined $960,500, Barclays Capital Securities Limited $867,600 and Merrill Lynch BofA International was fine $778,300.


The Turkey Wealth Fund on March 24 announced it has finalized a syndication loan transaction amounting to €1.25 billion ($1.48 billion) with the participation of 14 banks from countries from Asia, Europe, North America, and the Middle East.

U.S.-based multinational banking and financial services company JP Morgan on Feb. 12 revised its estimate for Turkey's economic growth for 2020 from 1.1% to 1.9%.

According to a report published by the firm, despite containment measures such as lockdowns, domestic demand was quite resilient in the fourth quarter of 2020.

In the next few weeks Greece is set to tap the bond markets for the first time in 2021, and some very positive messages are coming from international firms regarding Greek notes.

International agencies view the outlook of Piraeus Bank favorably after the formal verdict by the European Central Bank that leads to turning the Greek lender's contingent convertible bonds (CoCos) into common shares, and despite the major drop in third-quarter profits announced.

The small gains secured on Monday by the ATHEX benchmark sufficed for it to clear the 700-point bar for the second time within the space of just a few days, in a session dominated by announcements about the Aegean Air share capital increase and the JP Morgan report that contained previous estimates of a stock price rise.

Greece's biggest electricity utility, Public Power Corp. (PPC), said on Wednesday it has finalised a deal to sell off unpaid bills to investment bank JP Morgan that will raise about 200 million euros ($235 million).

PPC is struggling under a pile of about 2.7 billion euros of electricity bills owed by Greeks hard up because of the country's decade-long debt crisis.