UniCredit

Alpha Bank chief executive officer Vassilis Psaltis pointed to further expansion and acquisitions in Romania in a joint interview with CEO of Italian bank UniCredit, Andrea Orcel for Bloomberg,

The two CEOs, who have created the third-largest bank in Romania, said they believe in Romania's prospects and see plenty of value there.

As Bulgaria grapples with a deepening political crisis and the looming specter of early elections, the economic ramifications are starkly evident. A recent economic forecast from the Italian financial group "Unicredit" sheds light on the dire consequences, estimating that the turmoil will cost the Bulgarian economy a staggering BGN 1 billion.

The Hellenic Financial Stability Fund (HFSF) on Monday announced that it has agreed to sell its entire stake in Alpha and has started the process for that in National Bank.

Greece on Monday announced plans to sell a 20% stake in the National Bank of Greece (NBG) after concluding the sale of a 9% stake in Alpha Bank to UniCredit as it looks to divest from the country's lenders.

Bank bailout fund (HFSF) executives have been working on two fronts.

Over the weekend they sought that UniCredit improve its offer for 8.9% of Alpha Bank, as the competitive process was completed last Friday without another offer submitted.

Alpha Bank and Piraeus Bank on Friday reported a jump in profits for the first nine months of 2023, as higher rates boosted net interest income and bad loans declined.

Alpha Bank, Greece's fourth-largest lender by market value, reported net earnings of 491 million euros, up 59% from the first nine months of 2022.

Alpha Bank's deal with Italy's second largest bank, UniCredit, was a touch of optimism in the gloomy environment of very low expectations that currently dominates the Greek economy.

Greece's state-controlled bank bailout fund HFSF said on Monday it had launched a process to sell its 9% stake in Alpha Bank.

The Hellenic Financial Stability Fund (HFSF) last week received an offer from Unicredit for the stake as part of the Italian lender's plan to become Alpha Bank's biggest investor.

In mid-2000, Greece had just become the 12th member of the Economic and Monetary Union. For a long time, several European bankers were counting the opportunities and capital gains that could be hidden in the Greek banking system.

Alex Patelis, the chief economic adviser to Greece's Prime Minister, joins Thanos Davelis to discuss the significance of Standard and Poor's decision to upgrade Greece to investment grade and UniCredit's offer to buy Greece's stake in Alpha Bank, while outlining the government's next goals when it comes to the economy.