Bank

EU clears Greek Hercules plan to cut 30 bln euros of bad loans

Plans to cut bad loans at Greek banks by up to 30 billion euros ($33 billion) gained approval on Thursday from the European Union, which said they did not violate state aid rules.
Bankers told Reuters last month that they expected a green light from the European Commision for the scheme, that will help Greek banks offload the non-performing loans weighing on them.

The Banks which Are Affected by Brexit Are Heading to Frankfurt

Banks which are seeking for a new European financial centre after Brexit have so far turned their preferences to Frankfurt, according to a study by German bank Helaba.

By the end of August, 31 banks had chosen to establish or expand their operations in the western German city to secure their presence in the EU after London leave the bloc.

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