Eurobank Ergasias

Eurobank-Grivalia merger in line with state aid rules

Eurobank, Greece's third-largest lender by assets, said on Friday that its takeover of Grivalia Properties was given the green light by the European Union's competition authority because it meets state aid rules.

In November Eurobank agreed a 780-million-euro deal to buy Grivalia Properties to boost its capital and speed up the reduction of sour loans.

Dragasakis warns that taxpayers may need to foot another banks bill

Deputy Prime Minister Yiannis Dragasakis warned on Wednesday in Parliament of the possibility that local banks may require a fresh capital injection that the Greek taxpayers could once again have to cover.

In doing so, he started to prepare citizens for the consequences of the upcoming plans for tackling nonperforming loans.

ATHEX: Banks enjoy healthy rise on Greek bourse

Investor confidence appears to be returning gradually to local banks, with their stocks outperforming on Tuesday on the Athens bourse and the market's benchmark climbing for a fourth consecutive day - a performance unseen since October. Persistently low turnover shows that it only takes a handful of buyers to sway the market's course.

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