Eurobank Ergasias
Eurobank lands Piraeus subsidiary in Bulgaria
An agreement for the transfer of Piraeus Bank's subsidiary in Bulgaria (PBB) to Eurobank's arm in the neighboring country, Eurobank Bulgaria (Postbank), was confirmed on Wednesday by both Greek banking groups.
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Eurobank says to acquire Piraeus Bank Bulgaria
Greece's Eurobank said on Wednesday it had agreed to acquire Piraeus Bank Bulgaria for 75 million euros.
The completion of the transaction was subject to regulatory and supervisory approvals, the bank said, while the conclusion of the transaction was expected to take place during the first quarter next year. [Reuters]
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Bank branch vandalized in Zografou
Unknown individuals vandalized a bank branch in an apparent protest at the death of Zak Kostopoulos, an LGBTQ activist who died in October after being attacked by a jewelry store owner and another man in downtown Athens.
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Three lenders set for MSCI ejection
The steep losses of Greek bank stocks since May, which have led to them halving in value, will likely see them relegated from international indexes, and therefore dropping off the radar of major foreign portfolios.
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ATHEX: Motor Oil moves prompt benchmark slump
The sharp decline of Motor Oil stock and renewed selling of bank stocks led the Athens Exchange (ATHEX) benchmark to a new 20-month low on Thursday as it registered its biggest daily decline in 13 months.
The ATHEX general index ended at 619.32 points, shedding 3.25 percent from Wednesday's 640.15 points. The large-cap FTSE-25 index contracted 2.96 percent to 1,633.79 points.
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Eurobank joins we.trade platform
Eurobank has joined the we.trade blockchain-based trade financing platform whose services have now been extended to Greece, the Greek lender has announced.
The addition of Eurobank to the platform as a licensee banking partner means market leader we.trade has expanded the number of its licensee banks to 14 in as many countries, from just seven a year ago.
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ATHEX: Early gains vanish by end of session
A statement of support by Bank of Greece Governor Yannis Stournaras got Greek stocks off to a positive start on Wednesday, but a Moody's report stressing how much of a challenge bad loans pose to Greek banks soured the mood again, leading the benchmark back into the red at the close.
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ATHEX: Local stock benchmark slumps to new 18-month low
The bank stock sell-off continued at the Athens Exchange (ATHEX) on Monday, as the decline in Italian and Greek bond prices and continuing uncertainty over the government's plans for a special-purpose vehicle to guarantee local banks' bad loans took the benchmark below 650 points for its lowest close since end-March 2017.
Greek bank shares slide again, infected by 'Italian virus'
Greek bank shares came under renewed selling pressure on Monday as a rout in Italy's bond market eroded appetite for riskier euro zone assets.
Piraeus Bank, Greece's biggest bank by assets and already the subject of recent selling on concerns over its plan to issue subordinated debt, tumbled more than 8 percent as did No. 3 lender Eurobank.
Banks to sell individual bad loans to funds
Greek banks are adopting a tougher stance toward entrepreneurs who do not service their obligations, by moving ahead with the direct sale of major enterprises' bad loans to funds.
The sales planned will not only concern large portfolio transfers but also individual loan sales, even those of small or medium-sized companies.
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