National Bank of Greece

The governing board of Alpha Bank Cyprus agreed on Monday to the acquisition of Emporiki Cyprus, the subsidiary of Greece’s Emporiki Bank which has been absorbed by the Alpha Group.

Alpha Bank Cyprus will acquire 100 percent of Emporiki’s shares, with the two banks merging through Alpha’s absorption of Emporiki.

Turkey's Finansbank, owned by National Bank of Greece, said on Tuesday it secured a syndicated loan in two tranches of $397 million and 356 million euro ($442.6 million).

The loans will be used to finance foreign trade and has a maturity of 1 year, said the statement to the Istanbul stock exchange. [Reuters]

By Yiannis Papadoyiannis

National Bank of Greece on Wednesday announced it intends to go ahead with the sale of some of its shares in Turkish subsidiary Finansbank, alongside the latter’s share capital increase. However it will retain a 60 percent stake in the Turkish lender.

By Yiannis Papadoyiannis

The chairman of National Bank of Greece warned on Thursday that political, economic and geopolitical risks pose a threat to the country’s recovery.

Greek banks received what amounts to a virtually clean bill of health from the European Central Bank, as the results of the stress tests Frankfurt performed on the four systemic lenders of this country showed on Sunday that Alpha and Piraeus have completed the exercise successfully through their dynamic picture, and only Eurobank and National need to cover the negligible amount of 291 million e

Greece's biggest lender by assets National Bank said on Wednesday its Turkish unit Finansbank has submitted a plan to capital market authorities to raise up to 715 million Turkish lira (318.91 million US dollar) via an issue of new shares.
NBG aims to red... ...

Greece’s Capital Market Commission on Tuesday announced its approval of Alpha Bank’s absorption of Citibank’s branch network and portfolio in Greece and the entire share capital of Diners Club of Greece Finance Company SA.

The Commission decided the absorption poses no threat to the operation of the market and its competition requirements.

By Dinesh Nair, Ercan Ersoy & Ruth David

National Bank of Greece SA has hired banks including Goldman Sachs Group Inc. to sell as much as 40 percent of Turkish unit Finansbank AS in a secondary share offering, three people with knowledge of the matter said.

By Yiannis Papadoyiannis

The European Commission’s restructuring plans for Greek banks provide for a drastic scaling back of their activities abroad as well as reductions in the number of branches and staff at home.

The plans for banks National (NBG) and Piraeus were given the green light late last month, following those for Alpha in early July and Eurobank in April.

 NBG looks set to boost its assets by 400 mln euros and its capital adequacy ratio by 70 basis points

By Yiannis Papadoyiannis

National Bank of Greece is proceeding with the absorption of its corporate management subsidiary Ethniki Kefalaiou, as Kathimerini understands that the decision has already been approved at all corporate levels and will be immediately enforced.