Friday May 29, 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)  
Greek credit contraction amounted to 2.4 pct in April
Export-oriented firms benefit from euro rate
VAT hike would put several Athens hotels at risk
ATHEX: May ends with a rise of 0.3 pct
Greece, creditors seek breakthrough as clock runs down
Greece and its lenders enter a decisive weekend of negotiations in a bid to agree on a package of cuts and reforms that would unlock another 7.2 billion euros and allow Athens to keep meetin...
Coast Guard officials linked to migrant traffickers
An investigation by the internal affairs department of the Greek Police (ELAS) has linked the leadership of the country’s Coast Guard as well as officers of the police and of the National In...
Inside News
SOCCER
Panathinaikos conquers PAOK through Tavlaridis goal
A Stathis Tavlaridis goal has brought Panathinaikos to practically within one point from clinching a spot in next season’s Champions League qualifiers, as the Greens made it three out of thr...
SOCCER
AEK Athens returns to top league after financial collapse
Greek club AEK Athens has just returned to the country's top soccer league, two years after financial collapse sent it to a lower league. One of the country's largest clubs, AEK sealed its s...
Inside Sports
COMMENTARY
Zenobia, Barbara, Christine and the general’s daughter
ATHENS – Lovely Palmyra has fallen to the zombie horde and its people are being slaughtered as the ancient city awaits its fate. It is Friday, May 22, 2015, and from my window I see the end-...
INTERVIEW
The eurozone’s ‘ambiguous’ architecture
“That’s not something you’re supposed to say in public, right?” In his humble way, Thomas Sargent, Nobel Prize winner in Economics, tries to avoid the question posed to him by Kathimerini re...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek credit contraction amounted to 2.4 pct in April
2. Export-oriented firms benefit from euro rate
3. VAT hike would put several Athens hotels at risk
4. ATHEX: May ends with a rise of 0.3 pct
5. Greece, creditors seek breakthrough as clock runs down
6. Coast Guard officials linked to migrant traffickers
more news
Today
This Week
1. Greece creditors say no deal near as G-7 frustration vented
2. Only Greece can end its miserable 'Groundhog Day'
3. Next Greek aid program isn’t on table yet, says Moscovici
4. 12 Russians injured in lightning strike at ruins on Crete
5. Some blame EU Commission for Greek obstinacy in debt talks
6. The eurozone’s ‘ambiguous’ architecture
Today
This Week
1. Hotel contracts with a ‘Greek default clause’
2. Some 300 mln left banks on Tuesday
3. Neither Grexit nor a dual currency will solve Greece’s problems
4. No more 'quick and dirty' fixes for Greece
5. Romantic notions meet reality
6. Tsipras faces down radicals within SYRIZA over terms of deal
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.