Financial services

Card payments leap higher in third quarter

Credit and debit card transaction turnover grew almost 15 percent over the third quarter of the year on an annual basis, banishing fears that the growth rate of online transactions might slow to below 10 percent in 2019.

Card transactions added up to 11.4 billion euros in July-September, up 14.6 percent or 1.4 billion euros from the third quarter of 2018.

NPEs to drop by 26 bln euros in 2020

The state's asset protection plan, dubbed Hercules, will render securitizations a more attractive instrument for the reduction of nonperforming exposures (NPEs) of Greek banks, Morgan Stanley says in a new report, while Germany's Scope Ratings notes that securitization conditions in Greece are improving.

Two of China's largest banks moving to Greece

Two of China's biggest banks plan to do business in Greece, the Bank of Greece, has announced. 

Specifically, the central bank informed the Development Ministry on October 31 about the establishment of branchs of a branch of Bank of China (Europe) Luxembourg. 

The branch is to be located at Mesogeion Avenue, 2, and has a launch date of November 1, the BoG said. 

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