National Bank

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Pegasus media group and lenders to be charged

The head of the Athens court of first instance, Ilias Zagoraios, is preparing to bring criminal charges against employees of the Pegasus media group and three major Greek banks which are alleged to have granted Pegasus millions of euros in loans without adequate guarantees and to have allowed the loans to remain unserviced.

Wilbur Ross backs American-Dutch bid for Ethniki Insurance

The US commerce secretary has backed a bid by an American-Dutch consortium to buy the insurance arm of Greece's National Bank, Ethniki Insurance, saying a deal could help US investment flows to the troubled Mediterranean country.

Secretary Wilbur Ross wrote a letter to Greek Prime Minister Alexis Tsipras that called for a transparent sale, a senior banker told Reuters.

Greece's National Bank chairman to step down in December

National Bank (NBG), Greece's second largest lender by assets, said on Wednesday its board chairman Panagiotis Thomopoulos will step down in December this year.

Thomopoulos, who has previously served as deputy central bank governor and chairman of bank rescue fund HFSF, notified the board of his intention and asked it to work on a succession plan.

Four suitors for Ethniki Insurance

Four investors submitted binding bids to acquire a majority stake in Greek lender National Bank's (NBG) insurance unit, a banking source close to the deal told Reuters on Tuesday.

Greece's second largest lender by assets is looking to sell its Ethniki Insurance subsidiary as part of a restructuring plan it has agreed with regulators to exit from non-banking operations.

Greece's National Bank gets four bids for insurance unit, says source

Four investors submitted binding bids to acquire a majority stake in Greek lender National Bank's (NBG) insurance unit, a banking source close to the deal told Reuters on Tuesday.

Greece's second largest lender by assets is looking to sell its National Insurance subsidiary as part of a restructuring plan it has agreed with regulators to exit from non-banking operations.

NBG's Q4 profit helped by lower bad debt provisions

Greece's second largest lender by assets National Bank was profitable for a second straight quarter in October-December, helped by lower bad debt provisions.

NBG, 40 percent owned by the country's bank rescue fund HFSF, on Thursday reported a net profit of 73 million euros, excluding assets held for sale and discontinued operations, versus net earnings of 6 million euros in Q3.

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