National Bank of Greece

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.

Turkey's Finansbank, owned by National Bank of Greece, said on Tuesday it secured a syndicated loan in two tranches of $397 million and 356 million euro ($442.6 million).

The loans will be used to finance foreign trade and has a maturity of 1 year, said the statement to the Istanbul stock exchange. [Reuters]

National Bank of Greece on Thursday announced healthy profits for the first three quarters of the year, enhancing its capital position and cash flows in the context of what is proving to be a general rebound in the local credit sector, as the recent European Central Bank stress tests also revealed.

By Yiannis Papadoyiannis

The chairman of National Bank of Greece warned on Thursday that political, economic and geopolitical risks pose a threat to the country’s recovery.

Greek banks received what amounts to a virtually clean bill of health from the European Central Bank, as the results of the stress tests Frankfurt performed on the four systemic lenders of this country showed on Sunday that Alpha and Piraeus have completed the exercise successfully through their dynamic picture, and only Eurobank and National need to cover the negligible amount of 291 million e

Greek banks remain burdened by large problem loan portfolios, despite boosting capital and progress with their integration and restructuring plans, Fitch Ratings has said.

Astir Palace Vouliagmeni SA announced on Friday that Jermyn Street Real Estate Fund IV LP is the chosen bidder for the 90 percent majority stake at an offer price of 400 million euros in the tender organized by the National Bank of Greece and the government regulator.

Inspectors from the International Monetary Fund, the European Central Bank and the European Commission tasked with assessing Greece's progress in structural reforms have asked for a comprehensive approach to nonperforming loans that will incorporate measures for settling both corporate and household debt, a Finance Ministry official who attended talks in Athens on Tuesday told the state-run Ath

Attempts by the eurozone’s 20 largest banks to anticipate the outcome of European Central Bank stress tests continued in earnest in the first half, as lenders boosted equity levels and set aside more money for bad loans.

Turkey's Finansbank, which is owned by National Bank of Greece, said on Friday it had begun work on a possible secondary public offering of its shares.

It said in a statement to the Istanbul stock exchange that it planned to mandate investment banks and brokerages on the subject in the coming period.

[Reuters]