Friday September 19, 2014 Search
Weather | Athens
27o C
19o 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 groups 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, Genikis 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)  
Hardouvelis signals Greece may skip IMF loans to exit aid curbs
NBG-owned Finansbank looks into possible secondary public offering
ECB eyes banks capital quality as target for supervisory power
EIB signs deals with Greece for 815-mln investment in infrastructure projects
Homeless man falls to death from shelter in central Athens
A man aged between 40 and 45 years old fell to his death from the fourth floor of a homeless shelter in central Athens on Friday morning. Authorities said they suspect that the homeless man,...
Syntagma metro station to close for Fyssas tribute concert
Syntagma metro station will be closed from 4 p.m. on Friday due to a concert that will be held in the square to mark the one-year anniversary of rapper Pavlos Fyssass murder by a Golden Daw...
Inside News
SOCCER
Triumph for PAOK, historic result for Asteras in Europa League
Greek teams produced a patchy record on the opening night of the Europa League group stage on Thursday, as PAOK thrashed Dynamo Minsk, Asteras Tripolis snatched a draw at Besiktas and Panath...
SOCCER
Financial crisis forces Greek second division postponement
Greece's second soccer division Football League announced on Wednesday the postponement of the start of the season due to financial difficulties being faced by most clubs. "The board of dire...
Inside Sports
COMMENTARY
High stakes after the Scottish vote
We will soon know whether the Scots voted for their countrys independence or whether they will remain citizens of the United Kingdom of Great Britain and Northern Ireland. What was alread...
EDITORIAL
Breathing room
Even Greeces biggest critics find it hard to deny that the debt-hit country has achieved an unprecedented fiscal turnaround within a very short period of time. Sure, progress in promoting t...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Hardouvelis signals Greece may skip IMF loans to exit aid curbs
2. NBG-owned Finansbank looks into possible secondary public offering
3. Homeless man falls to death from shelter in central Athens
4. Syntagma metro station to close for Fyssas tribute concert
5. Samaras heads to Azerbaijan for two-day visit
6. Dozens of arrests at march to mark anniversary of Fyssas murder
more news
Today
This Week
1. ECB eyes banks capital quality as target for supervisory power
2. EIB signs deals with Greece for 815-mln investment in infrastructure projects
3. Samaras heads to Azerbaijan for two-day visit
4. Syntagma metro station to close for Fyssas tribute concert
5. Dozens of arrests at march to mark anniversary of Fyssas murder
6. Homeless man falls to death from shelter in central Athens
Today
This Week
1. Greece on standby
2. Greece at bottom of social justice scale among EU28
3. Central Athens traffic restrictions back in force on Monday
4. Lost in the fog
5. Democracy under Pressure | Live Streaming
6. SYRIZA spokesman suggests gov't sought to stop NERIT airing Tsipras speech live
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.