National Bank

The Athens Stock Exchange has returned back to 1989 levels amid uncertainty over completion of the first review of the Greek economic adjustment program, intense social reactions to proposed reforms in the social security and tax systems and scenarios over political developments in the country.

Equity prices were falling on Monday on the Athens Stock Exchange (ASE), with the basic share price index down 7.16%, standing at 467 points at 14:40pm.

A group of Greek citizens lashed out at Labour Minister Giorgos Katrougalos on Monday in the center of Athens.

The incident took place at Kotzia square while the minister and other government officials were heading to Mela Mansion of National Bank in order to attend the speech of Greek Prime Minister Alexis Tsipras.

The National Bank is holding an extraordinary general shareholders’ meeting for the approval of the sale of its subsidiary in Turkey, Finansbank.

Greece's privatization agency said on Jan. 3 it signed a 400 million euro ($434.3 million) deal with Jermyn Street Real Estate Fund to sell Astir Palace, a luxury seaside resort outside Athens.

“Those who are cooperative borrowers and it is objectively impossible for them to pay off their loans should not be afraid of the auctioning of their primary residence,” the president of Hellenic Bank Association and National Bank governor Louka Katseli  answered to a clarifying question of Athens News Agency on the code of conduct of the Bank of Greece.

The president of Hellenic Bank Association and National Bank governor Louka Katseli in an interview with Handelsblatt estimated that the capital needs of the Greek banks are limited.

“My personal view is that banks will not need the entire 25 billion euros”, Katseli said.

The president of Hellenic Bank Association and National Bank governor Louka Katseli in a meeting with the National Confederation of Commerce and Entrepreneurship (ESEE) said she is in favour of second business opportunities and the settlement of bad loans.

She also added that capital controls will be lifted early 2016.

President of the Hellenic Bank Association and National Bank Governor Louka Katseli said that capital controls will probably be lifted from banks at the end of 2015 or early 2016. She stressed the importance of money returning to banks after the 118 billion euros taken out from 2008 through to 2015.

Greece?s biggest bank National Bank is considering options to meet any potential capital shortfall after a stress test later this year but has not finalized plans, which include options for majority-owned Finansbank in Turkey, a source at the bank told Reuters on Sept. 28.