Credit

Turkey ready to put up capital for Islamic megabank: Deputy PM Babacan

Deputy Prime Minister Ali Babacan has said Turkey, Indonesia and the Islamic Development Bank have accelerated their efforts to establish a "megabank" with the aim of creating a platform to serve as a "central bank" for the world's Islamic lenders, as reported by Reuters. 

Turkey's Yap? Kredi secures syndicated loans

Turkish lender Yap? Kredi said on May 4 it had made a 364-day and 367-day syndicated loan agreement comprised of a U.S. dollar tranche of $513 million and a euro tranche of 835 million euros.

?This syndication is the successful refinancing of Yap? Kredi?s existing syndication loan signed in April 2014 with a roll-over ratio of above 114 percent,? the bank said in a statement. 

Piraeus Bank writes off crisis-hit clients' debts

By Evgenia Tzortzi

Piraeus Bank has decided to write off debts of up to 20,000 euros stemming from consumer loans and credit cards for its clients who qualify to benefit from the government?s measures against the humanitarian crisis. The bank will also freeze debts from mortgages for the same category of citizens, it announced yesterday.

S&P lowers ratings for Greece

The Standard & Poor’s ratings services lowered its long- and short-term sovereign credit ratings for Greece to ‘CCC+/C’ from ‘B-/B’.
At the same time, S&P removed these ratings from CreditWatch, where it had placed them with negative implications late January 2015. The outlook was given as negative.

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