Eurobank
ATHEX: Stock index within reach of 860 points
The Greek stock market benchmark edged marginally higher again on Thursday, but the increase in turnover did not translate into a significant advance for blue chips, as their index ended up in the red. Gains for small-caps, on the other hand, led to winners surpassing the losers at the end of the session.
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Terna Energy Finance to launch green bond tender offer Oct. 16
Terna Energy Finance, the financing arm of Terna Energy, will launch a tender on Oct. 16 for a green bond loan of up to 150 million euros, it said on Monday.
The offer for the seven-year bond will end on Oct. 18, it said.
A source at Terna Energy said that about 90 million euros from the bond will be used to build a wind park in Greece and to buy one in the United States.
Banks have to adjust strategy to Hercules plan
Greece's four systemic banks have no option but to participate in the government's plan for the reduction of bad loans, named "Hercules," approved last week by the European Commission.
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Capital Group returns after leftists’ defeat
A bourse filing by Eurobank late on Wednesday may well mark the end of a five-year period during which foreign investors' attitude toward Greece was one of uncertainty and major foreign institutional portfolios abstained from Greek transactions.
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Eurobank struggles to flip loan-recovery unit to PIMCO, report says
Greece's Eurobank is struggling to finalize a deal to sell a majority stake in its loan-recovery business to US money manager PIMCO, sources familiar with the matter told Reuters, after a Sept. 30 deadline passed with no agreement.
Alpha to follow Eurobank’s NPL example
Alpha Bank is working on a plan for the securitization of its nonperforming loans and their management by an independent company to which the lender's competent staff will be transferred.
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ATHEX: Banks advance as other blue chips decline
The rise recorded by Greek bank stocks on Wednesday was largely offset by the decline of most non-bank blue chips, leaving the benchmark of the Athens bourse virtually unchanged and the stock board split between winners and losers. However, market observers were quite encouraged by the improvement in trading volume.
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Eurobank set to take next step in its evolution
The board of the Eurobank group is by September 15 expected to approve the split of its bank arm from the rest of the group.
The bank will retain the Eurobank name, without the old Ergasias suffix. This forms part of the management's strategic plan for the streamlining of the bank's finances.
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Eurobank to urge debtors to join settlement scheme
Eurobank is prepared to send letters to some 35,000 clients with non-performing loans totaling 2 billion euros urging them to take advantage of the law allowing them to settle their debts on favorable terms and save their homes from foreclosure.
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Banks must tackle bad loans
The greatest challenge facing Greek banks is to reduce their very high level of nonperforming loans, says credit rating agency Moody's.
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