Saturday April 18, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Absorption of Geniki makes financial sense for Piraeus group

By Yiannis Papadoyiannis

Piraeus Bank appears to be moving ever closer to a decision to fully absorb Geniki Bank, as its administration considers this the best solution not only for the subsidiary but also for the group’s financial figures.

Analysts say that the Piraeus Group will get a much needed boost if it abandons its original plan to transform Geniki into a lender specialized in restructuring troubled enterprises and instead fully absorbs the bank and its employees,

Geniki enjoys strong liquidity, with a loans to deposits ratio of 82 percent, a robust capital base with a capital adequacy ratio above 18 percent, and the ratio of coverage of nonperforming loans by provisions at 63 percent, one of the highest in the local market.

According to the latest figures, for the end of December, Geniki’s assets amounted to 2.67 billion euros, its deposits were 2.17 billion while its loans came to 1.79 billion euros.

The Piraeus Group took control of Geniki in December 2012 following an agreement with its previous main stakeholder, Societe Generale.

ekathimerini.com , Wednesday May 28, 2014 (00:53)  
US Treasury secretary urges Greece to reach debt deal
Greece poised to sign gas deal with Russia, says German weekly
Russia gas deal would not solve Greece’s problems, says Schaeuble
Spanish official slams Greece, says time ´running out´
Kotzias to begin US visit with Kerry meeting in Washington
Foreign Minister Nikos Kotzias is due to begin a five-day visit to the US on Monday. He will begin his trip by meeting Secretary of State John Kerry in Washington, where he will also hold ta...
Turkey asks for investigation into Greek mosque attacks
The Turkish Foreign Ministry has asked Greece to investigate the vandalism of two mosques in Komotini following incidents on Friday. “Turkey requests Greek authorities to clarify as soon as ...
Inside News
BASKETBALL
Triumph for Olympiakos at Barcelona
Olympiakos produced its best away performance so far this season to defeat host Barcelona 76-63 on Friday and snatch the home advantage in the Euroleague play-offs. The Reds have now tied th...
BASKETBALL
Another heavy loss for improved Panathinaikos in Moscow
Panathinaikos raised its performance since Tuesday but still suffered a 20-point loss at CSKA Moscow on Thursday to find itself trailing 2-0 after Game 2 of the Euroleague play-offs. Having ...
Inside Sports
COMMENTARY
Back to the beginning
From 1980 up until the present day, the Greek educational system has given a false sense of democratization based on a flawed system of educator and student participation. The educational ou...
EDITORIAL
Protecting a key asset
Tourism has emerged as the only real “heavy industry” in Greece to have weathered the crisis so it is not only a question of duty that everyone protect it but also interest. To begin with, m...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. US Treasury secretary urges Greece to reach debt deal
2. Greece poised to sign gas deal with Russia, says German weekly
3. Russia gas deal would not solve Greece’s problems, says Schaeuble
4. Spanish official slams Greece, says time ´running out´
5. Kotzias to begin US visit with Kerry meeting in Washington
6. Turkey asks for investigation into Greek mosque attacks
more news
Today
This Week
1. Back to the beginning
2. Terrorism suspects caught following German request
3. Golden Dawn on trial amid conflict over court venue
4. Protecting a key asset
5. Turkey asks for investigation into Greek mosque attacks
6. Kotzias to begin US visit with Kerry meeting in Washington
Today
This Week
1. Quarantine for Greek bank subsidiaries in neighboring countries
2. Greece and lenders head back to technical talks
3. Contraband is big business in Greece
4. FYROM push expected at EU meeting
5. Islands of eastern Aegean struggle as migrant influx triples
6. Greek finance ministry hits back at German newspaper report
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.