Bank of Greece

 Return to normal conditions may take longer than many businesspeople and other professionals think

By Dimitris Kontogiannis

 Per capita expenditure posted a 1.9 pct decline last year, partly due to poor takings from cruise passengers

By Stathis Kousounis

Foreign tourists’ average per capita spending in Greece remains at low levels, notwithstanding the signs of recovery observed so far this season.

National Bank of Greece (NBG) became the latest of Greece's four major lenders to successfully tap international markets as prospects of a recovery in the Greek economy lure investors.

National Bank of Greece will price its 2.5 billion euros ($3.48 billion) share placement at between 2.20 and 2.30 euros a share, two sources familiar with the transaction told Reuters.

The National Bank of Greece has priced its share offer at 2.00-2.60 euros a share, in a placing worth up to 2.5 billion euros, two sources familiar with the matter said on Wednesday.

“There has been incredibly broad-based demand,” one of the sources said.

By Yiannis Papadoyiannis

The book for National Bank of Greece’s 2.5-billion-euro share capital increase opens on Tuesday and will close on Thursday, with the price for the sale of the new shares to be determined by investor offers.

On Saturday a general meeting of the bank will approve the share increase and the share price, completing the process.

By Evgenia Tzortzi

The successful share capital increase of Eurobank and the forthcoming one of National are changing the lenders’ plans for the sale of EFG Eurolife and Ethniki Insurance respectively.

By Stathis Kousounis

Greece has in the first months of the year recorded far greater growth rates in foreign tourism arrivals and in travel revenues than its direct competitors in the region, according to official data.

LONDON - Peripheral banks, used to paying generous new issue spreads compared to banks from the eurozone core, have become victims of their own success, and overwhelming demand for their bonds has withered in recent weeks as spreads have tightened.

Piraeus Bank SA (TPEIR) sold its 9.9 percent stake in Athens Water Supply & Sewage Co SA (EYDAP) to Paulson & Co SA for 86.3 million euros ($120 million), according to a Piraeus Bank official who asked not to be identified in line with policy.