Eurobank
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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Moody's ups Greek banks' deposit rating outlook to positive
Moody's changed its deposit rating on Greek banks Alpha, Eurobank and National to positive from stable, citing expectations of further improvement in asset quality, the ratings agency said on Tuesday.
Moody's said stronger than 2 percent annual economic growth in the coming years would support banks' efforts to reduce their large stock of sour loans.
BSTDB-Eurobank deal to finance promotion of international trade in Greece
Eurobank announced on Thursday that the Black Sea Trade and Development Bank (BSTDB) is fueling the promotion of international trade in Greece with a 15-million-euro trade finance facility to Eurobank Factors (EF).
Eurobank to sell sour mortgage loan notes to Pimco unit
Greece's third-largest lender Eurobank agreed to sell mezzanine and junior notes of a 2.0 billion euro securitized pool of non-performing mortgage loans to a unit of US funds group Pimco as part of efforts to clean up its balance sheet.
Eurobank initiative for promotion of digital skills
Eurobank on Wednesday announced the launch of the Eurobank Digital Academy for Business, a digital skills resource center for Greek companies that treat technology as a key enabler and digital transformation as a growth strategy and a means to gain a competitive edge.
Piraeus issues corporate bond
Piraeus Bank is on Wednesday opening its book for the issue of a Tier II corporate bond, putting off the process from Tuesday due to the particularly high interest by investors that did not allow for the bank to meet with all interested buyers.
The aim of the Greek lender is to raise 300-350 million euros while offering an interest rate of 9-10 percent.
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Eurobank finishes buyout of Piraeus’ Bulgarian unit
Greece's third-largest lender, Eurobank, said on Friday that its Bulgarian subsidiary Postbank had concluded the acquisition of Piraeus Bank's Bulgarian unit after obtaining regulatory approvals.
The acquisition boosts Postbank's share in Bulgaria's banking market to more than 10 percent, ranking it third in terms of total loans, Eurobank said.
Elliott, Bain, Cerved eye Eurobank loan service unit
Eurobank has received a nonbinding offer for its Financial Planning Services (FPS) unit from a consortium comprising US funds Elliott and Bain Capital and Italian credit manager Cerved, banking sources close to the process said.
FPS will be sold as part of a planned 7.5-billion-euro multi-asset securitization package by Eurobank, code-named Cairo.
Portfolios containing thousands of properties up for sale
After many months of preparation, portfolios containing over 3,000 properties associated with nonperforming loans will be put up for sale in the coming weeks.
Real estate market professionals say that at least five major portfolios of assets, each with its own specific features, are being prepared for sale. They contain up to 2,200 properties.
ATHEX: PPC, Piraeus turn bourse's weekly losses into gains
Public Power Corporation and Piraeus Bank helped the benchmark of the Greek bourse recover on Friday, which sufficed to swing the weekly losses into gains. However, turnover reverted to low levels as the market clearly is in anticipation of the election results, not only in Greece but also in the rest of the European Union.