Leonidas Fragkiadakis

Greek bank stress test results due on May 5

The country's four systemic banks saw their stock prices gain about 15 percent over the week after reports emerged that they have successfully negotiated their stress tests. During the week the lenders were informed in Frankfurt about the tests' progress and the official announcement of the results is now scheduled for Saturday, May 5.

NBG likely to sell its insurance unit this year

National Bank of Greece expects to sell its subsidiary Ethniki Insurance this year and plans other sales as part of its restructuring, its chief executive said on Wednesday.

Last month Greece's second largest lender hired Goldman Sachs and Morgan Stanley as advisers on the sale of the insurance unit, banking sources close to the deal said.

NBG board to take initiatives to resolve management crisis

National Bank of Greece chief executive Leonidas Fragkiadakis has stressed to Kathimerini his determination to find a solution to the lender's management crisis, adding that the point is to reach consensus for the benefit of the bank. He adds that the lender has many challenges ahead of it and that it is crucial normality returns for work to resume.

Gov't fully supports HFSF in its clash with the NBG board

The government on Friday lent its full support to bank bailout fund HFSF in its clash with the National Bank of Greece board, increasing pressure on NBG chief executive Leonidas Fragkiadakis to resign.

Government spokesman Dimitris Tzanakopoulos said "a bank cannot ignore the wish of its main shareholder."

HFSF challenges Thomopoulos's NBG appointment

There seems to be no end to the administration crisis at National Bank of Greece, as immediately after Panayiotis Thomopoulos was elected the group's new president on Wednesday, the Hellenic Financial Stability Fund, NBG's main stakeholder, stated it had voted against him and is examining the option of calling an extraordinary general meeting.