Piraeus Bank
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Piraeus Bank offers relief to poverty-stricken borrowers
Piraeus Bank will write off credit cards and retail loans up to 20,000 euros ($21,484) for Greeks who qualify for help under a law the leftist government passed to provide relief to poverty-stricken borrowers, it said on Thursday.
Credit sector stocks reap gains
Greek bank stocks received a much needed boost from news of the ELA extension by the European Central Bank, sending the banks index up 13.40 percent and helping the benchmark recover 2 percent on Wednesday after three consecutive sessions of losses.
The Athens Exchange (ATHEX) general index ended at 719.43 points, rising 2.08 percent from Tuesday?s 704.74 points.
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Legislative act sees bourse gains vanish
The government?s decision to introduce a legislative act forcing state entities to submit their cash reserves to the Bank of Greece canceled out all gains that stocks had notched up in the week?s opening session at Athinon Avenue, while banks shook off the threat by eurozone central bankers that the Greek credit system may soon be short of collateral for drawing liquidity.
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Bulgaria C-Bank 'Warned Greek-Owned Banks' over Grexit Scenario
Bulgaria's central bank recommended Greek-owned banks to clean their portfolios of securities and deposits which "could incur losses" if Greece leaves the euro, media reports suggest.
The Bulgarian National Bank (BNB) "kindly advised" in March those financial entities, Capital daily quotes a source from a lending institution whose shareholders include Greek citizens.
Piraeus confirms absorption of Panellinia Bank
Piraeus Bank announced late on Friday that it is absorbing the healthy part of Panellinia, a small cooperative bank that failed to complete its required share capital increase.
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Commission approves resolution aid for the resolution of Greek Panellinia Bank
The European Commission has found that resolution aid granted for the resolution of a small retail bank Panellinia Bank (with a 0.3% market share in Greece) is in line with EU State aid rules. The Bank of Greece has decided to put the bank under resolution because Panellinia Bank did not successfully cover a capital shortfall identified in the 2013 stress test of the Greek banking sector.
Piraeus Bank to absorb Panellinia
Piraeus Bank has agreed to absorb the healthy part of small cooperative lender Panellinia after it failed to plug a capital gap, two banking sources told Reuters on Friday.
?The deal has closed. Piraeus agreed to take over the healthy part of Panellinia,? one of the bankers said, declining to be named.
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Grexit talk sends bourse benchmark further south
International rumors about a Greek eurozone exit and the bleak outlook of the country?s negotiations with its creditors sent local stocks even lower on Wednesday, with banks again bearing the brunt of the selling pressure.
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Stocks rise on assurance of priorities
The Greek bourse began the four-day recess having secured daily gains of 1.06 percent and a weekly rise of 0.61 percent, as the government asked its eurozone peers for cash while making it clear that Russia is not a solution to Greece?s financial problems. Thursday?s trading volume was the second lowest of the year.
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Small gains on low turnover in Athens bourse
The Athens stock market reopened on Tuesday after a four-day break, making moderate gains on particularly low turnover as traders are expecting the results of Wednesday?s Euro Working Group meeting as well as the outcome of the prime minister?s visit to Moscow.
The Athens Exchange (ATHEX) general index ended at 777.47 points, adding 0.80 percent to Thursday?s 771.32 points.
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