Banking

Banks have firmly focused their attention on debtors who have resorted to the provisions of the so-called Katseli law - named after former economy minister Louka Katseli - for protection now that their bank account secrecy has been lifted.

Fitch has downgraded its assessment of four Turkish banks on Sept. 11 due to increased risks to the banks' performance following the recent market volatility and higher chances of a "hard landing" for the Turkish economy.

Healthy liquidity profiles and well staggered debt maturities should shield most rated Turkish non-financial companies' credit quality from potential refinancing risks over the next 12-18 months, as domestic GDP growth slows, financial conditions tighten and the lira weakens, Moody's Investors Service said in a report on Sept. 11.

The majority of real estate transactions in Greece are carried out in cash, as banks continue to underfinance the property market because the majority of buyers do not have the credit profile for a substantial loan.

The end to banking secrecy as of September 15 will mark the start of the major clearing of borrower applications for protection from lenders according to the so-called Katseli law.

The second-quarter financial results published by the National Bank of Greece (NBG) on Friday reflected the gradual strengthening of operating profits and of liquidity, and the achievement of the target for the reduction of nonperforming exposures for the entire 2018 already from the first half of the year.

SOFIA, Bulgaria--(BUSINESS WIRE)--Fibank (First Investment Bank) has launched a program specially tailored for women in business, as a result of extensive research and discussions with experts and female entrepreneurs.

A local credit rating agency will direct foreign investments to Turkey in the coming years, chairman of the Participation Banks Association of Turkey has said.

Turkey's banking watchdog plans to limit consumer loans and borrowing on credit cards to support financial stability and the macroeconomic balancing process.

Nonperforming loans held by eurozone banks are close to a trillion euros, according to recent data, and Greek lenders are struggling with just over a tenth of that amount, or more than 100 billion euros of nonperforming exposures.