HSBC

In its latest report on Greece, UK bank HSBC notes the change that has taken place in the country's economic model, with heavier emphasis placed on exports and investments, calling it a major reform story.

The economy's prospects are far better and more sustainable than in the past, HSBC's report notes.

On July 31, Pancreta Bank absorbed the Greek assets of global banking colossus HSBC, taking in a highly complementary business and, in effect, creating a new bank, far from its 1993 origins as a cooperative bank named Credit Development Cooperative of Heraklion.

In an interview with Kathimerini, CEO Antonis Vartholomeos explains that upcoming mergers will further expand the bank.

Pancreta Bank will make the first significant and fundamental step toward the creation of a strong bank in Greece with the full absorption of HSBC's operations in the country on July 28.

This will be followed by the completion of the mergers with Central Macedonia Bank and with Attica Bank. 

The shareholders of Thrivest, which will participate with 30 million euros in the Attica Bank capital increase by acquiring, in this phase, 4.93% of its share capital, aim to create a single bank.

Greek companies engaged in international activities will benefit from a new 200-million-euro trade finance partnership between the European Investment Bank (EIB) and HSBC Bank Plc, it was announced in Athens on Thursday, in the presence of Deputy Minister of Development and Investment Yiannis Tsakiris.

HSBC said yesterday that first-quarter profits dropped nearly 30 percent owing to higher-than-expected credit losses and inflation but the Asia-focused lending giant remained upbeat about its outlook.

With tourism accounting for more than 20% of the Greek economy, the recovery expected this year will give a significant boost to GDP. This emerges from the report of the British bank HSBC in relation to the prospects for tourism this year.

The Turkey Wealth Fund on March 24 announced it has finalized a syndication loan transaction amounting to €1.25 billion ($1.48 billion) with the participation of 14 banks from countries from Asia, Europe, North America, and the Middle East.

Ljubljana – Slovenia plans to issue a 60-year bond subject to market conditions and has commissioned BNP Paribas, Deutsche Bank, Goldman Sachs Bank Europe SE and HSBC to manage the issue, the Finance Ministry announced on Tuesday.

Additional details have not been disclosed, but this would be the longest maturity for a bond Slovenia has ever issued.

Ljubljana – The Finance Ministry has commissioned several international banks to manage a new, 10-year bond with maturity in 2031 and increase a 30-year bond issue due in 2050 in the near future, depending on the situation on financial markets.