Financial economics

Fitch Ratings has upgraded the mortgage-covered bond programs of four Greek banks.

The banks are National Bank of Greece, Alpha Bank, Eurobank Ergasias and Piraeus Bank to B-/Stable/B with a b- viability rating (VR.

The outlook is stable, reflecting that on the respective banks’ Issuer Default Ratings (IDR).

Three prominent Turkish banks’ second-quarter financial outlooks reveal that problems in the sector remain, but the recent rise in rates has helped to ease some of their losses Despite a slight recovery in the second quarter, Turkish lenders have recorded falling profits for the first half of the year due to an increase in interest rates, as well as limitations on credit card and loan

International lenders concluded a fifth review of Cyprus’s economy on Friday, saying the island was making “relatively good progress” after a bailout last year but that key challenges lay ahead.

A UK court has agreed to extradite Greek businessman Kyriakos Griveas and his wife Anastasia Vatsika, who are wanted in Greece in connection with the unsecured loans scandal at Hellenic Postbank (TT).

Westminster Magistrates’ Court ruled that UK authorities should comply with the European arrest warrant issued by Greek authorities.

British lender HSBC has begun to close the accounts of small local businesses in Turkey with the aim of focusing on customers with overseas interests.

The bank has started to call small companies to tell them the bank has decided to close the accounts of customers to whom it believes it cannot provide enough service.

BELGRADE - Serbia will end up in a situation of no longer being able to finance its debts, of seeing the interest rates growing and everyone working only to pay interests, unless radical changes are introduced by the end of the year, Serbian Deputy Prime Minister Kori Udovicki said Wednesday.

By Kelly Bit

Dromeus Capital Management SA is turning Greek tragedy into triumph.

Smartphones and tablets are among the items most frequently bought on deferred payment plans in Bulgaria, shows an analysis of the BNP Paribas Personal Finance company. 

Bulgarians will pay fewer fees when getting a new loan after the amendments to the Consumer Credit Act come into effect as of July 22.

These include the fees for utilization and management, and the penalty interests for repayment of mortgage loans, Nova TV informs.

 Many borrowers claim they can’t service their debts but take advantage of measures to help truly needy

By Alekos Lidorikis