Subprime mortgage crisis

Central Bank net reserves may turn positive: Goldman Sachs

The Turkish Central Bank's net reserves are likely to turn positive in 2024, according to analysts at Goldman Sachs.

In a note on the Central Bank's latest rate decision, Goldman Sachs said that it expects rising foreign inflows and a narrower current account deficit to pull the rate of Turkish Lira appreciation further inside the forwards in 2024.

Citigroup discriminated against Armenian Americans, regulator says

Citigroup employees labeled a group of roughly 80,000 Armenian Americans living near Los Angeles - the largest Armenian community outside Yerevan, the Armenian capital - as "bad guys" and secretly denied them fair access to the bank's credit card products, the Consumer Financial Protection Bureau said in a statement on Wednesday.

Goldman Sachs anticipates more takings for Greek banks

Goldman Sachs expects Greek banks to show strong results in the third quarter of the year as well, following the trend of the second quarter, with further strengthening of net interest income, which will be supported by the 50-basis point increase in interest rates, to which it is estimated that the European Central Bank will have progressed in the specific period.

Businesses eager to pay back loans

Since the beginning of 2021, Greece's four biggest banks - Alpha, Eurobank, National and Piraeus - have lent businesses some €70 billion, and businesses, in turn, have paid back €55 billion from these or earlier loan.

The net credit expansion of €15 billion is considered low and there are worries that it may drop further in coming years.

Bulgarian National Bank: Interest Rates on Housing Loans remain at around 2.5%

Interest rates on home loans remain at around 2.5%. This is shown by the latest BNB data. However, the cost of loans for current consumption is increasing by 1% for July compared to June.

Bulgaria is again lagging behind the European trend for the growth of interest rates, but by the end of the year an increase of up to two percent is possible.

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