National Bank of Greece
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Finansbank's Q1 net profit more than doubles
Turkey?s Finansbank, owned by National Bank of Greece, said on Wednesday that its net profit in the first quarter more than doubled to 283 million lira ($106.83 million).
The bank?s net profit in the same period of 2014 was at 129 million liras, it said in a stock exchange filing.
[Reuters]
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Fitch downgrades Greek banks
Fitch Ratings piled on the recent bad news for the Greek economy this week by downgrading Greece's systemic banks, including the market leader National Bank of Greece.
The move comes after a March 27 decision by the same ratings company to downgrade the country's sovereign rating.
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Greek-owned Turkish bank delays enforced $1 billion share sale
By Isobel Finkel
Finansbank, the Turkish lender owned by National Bank of Greece, has delayed a planned secondary public offering that must be held this year to cut the Greek investor?s stake in line with a European Commission agreement.
Greece must pay tranche for derivative on Friday
Payments on a swap originally arranged by Goldman Sachs Group Inc in 2001 are due on Friday, said a person familiar with the matter who asked not to be identified publicly.
The derivative, now held by the National Bank of Greece, masked the country?s growing debt, helping it meet European Union rules for entering the euro area.
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Greece's NBG to sell stake in Finansbank in April
Finansbank, 99.8 percent of which is owned by National Bank of Greece (NBG), has announced its intention to launch an offering of its ordinary shares listed on Turkey?s main stock exchange, Borsa Istanbul.
In a statement to Public Disclosure Platform (KAP) on March 11, Finansbank said the offering is expected to be completed in early April, subject to market conditions.
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Greek banks mull cutting shipping portfolios to raise capital, sources say
By Jonathan Saul & Sophie Sassard
Greece's leading banks are considering offloading part of their portfolios of shipping debt worth billions of dollars in a bid to shore up their capital, according to banking and ship financing sources.
Two Greek banks dropped from top European equity index
Greek lenders Bank of Piraeus and Eurobank will drop out of the pan-European STOXX 600 benchmark, index compiler STOXX said, potentially depriving them of investment flows at a rocky time for Greek's economic future.
Despite a recent rebound, shares in the two banks are down around 65 percent since February 2014, hurt by worries over Greece's debt pile.
Europe stocks extend 2007 high as Greek shares jump on aid deal
By Namitha Jagadeesh & Roxana Zega
European stocks extended a seven-year high as Greece reached a bailout deal and the Federal Reserve pledged patience on raising interest rates. Greek shares surged.
Some 32.5 bln fled abroad on fears of Grexit
By Leonidas Stergiou
The amount of capital that was transferred out of Greek banks between late 2009, when the extent of Greeces economic troubles started emerging, and ended in June 2012 as confidence in Greece began being restored, amounted to about 115 billion euros, a recent National Bank of Greece survey showed.
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Banks ready to start funding shipping again, says NBG chief
By Nikos Roussanoglou & Ilias Bellos
National Bank of Greece chief executive Alexandros Tourkolias on Wednesday confirmed Greek banks return to the financing of the shipping industry.