Bank failures

Sale of Greek public hospital debt to Italian firm announced

Banca Farmafactoring SpA announced on Wednesday that it has completed the acquisition of a portfolio of debt owed by public hospitals in Greece.

The Italian lender has acquired a portfolio of 10 million euros of debt owed by about 100 hospitals and healthcare providers across Greece in a deal that represents the first such transaction in this country. [Reuters]

Former bank executives charged

Greece's corruption prosecutor has brought criminal charges against 30 former executives of the now defunct Agricultural Bank of Greece for approving loans over a 10-year period to the ATTIKAT construction company and a private citizen who did not meet the necessary requirements.

Europe to improve disclosure of ‘bad loans’ for all banks

European authorities will prepare by the end of next year enhanced disclosure requirements on bad loans as part of an action plan to tackle the risk of non-performing loans (NPL).

EU economic and finance ministers (Ecofin Council) are expected to adopt today (11 July) a plan to decrease the high level of bad loans held by banks in member states.

Moody's calls fresh deposit flight a credit negative event

The reduction in Greek bank deposits over the first couple of months of this year constitutes a "credit negative" event for local lenders, international rating agency Moody's said.

Moody's noted that January's 1.6-billion-euro decline, which continued in February, is mainly due to the delay in the completion of the bailout review that has damaged the confidence of depositors.

Bank deposits at a record low since 2001, shows Bank of Greece data

Bank deposits are at their lowest levels since 2001, according to the Bank of Greece (BoG). The figures released by the BoG revealed that deposit outflows of Greek depositors amounted to 1.567 billion euros in January. The amount of deposits in December of 2016 were up by 2.972 billion euros.

Greek bank deposits shrink in December

Greek private sector bank deposits registered a drop in December after rising in the two previous months, central bank data showed on Friday, with the fall attributed to statistical counting changes.

Business and household deposits fell by 3.42 billion euros, or 2.7 percent month-on-month, to 121.38 billion euros, their lowest level since July 2003.