Piraeus Bank last year had up to 300 million euros’ worth of restructured loans returned to it from Intrum Hellas, the company that has undertaken the management of the all of the lender’s bad loans through their exclusive cooperation.
BANKING
Cypriot banks substantially accelerated the reduction of their legacy nonperforming exposures in 2020, DBRS Morningstar said in a report on Tuesday.
Alpha Bank is on track to secure shareholder approval for a planned 800-million-euro share offering in a vote today, banking sources told Reuters.
Greece has mandated BNP Paribas, Deutsche Bank, Goldman Sachs Bank Europe, HSBC, J.P. Morgan and Nomura as joint lead managers to reopen a 10-year bond, the debt agency said on Tuesday.
Who sets the tone for economic policy? The question sounds paradoxical, but perhaps some of the things that are happening are also paradoxical.
The majority of Alpha Bank shareholders support management’s plan to boost capital via an equity offering and intend to take part.
The strengthening of its presence abroad through new acquisitions, the focus on the target of streamlining its financial figures, and the increase in loan issues and profits are the main pillars of the Eurobank business plan, based on its statement in the context of the first-quarter results issued on Thursday.
The issue of old loans issued with state collateral that that have been defaulted on has evolved into a tug of war between the government and the commercial banks.
Property market professionals in Greece expect pressure to increase on prices in the category of apartments with the highest demand – i.e. those ranging between 80,000 and 150,000 euros – in the coming years.
Turkey’s President Tayyip Erdogan replaced the central bank’s fourth policymaker in the last two months on Tuesday, naming a respected labor market economist to its ranks as the country strains to get back to work after the pandemic.
Alpha Bank on Monday confirmed that it plans to raise about 800 million euros in a sale of new shares to capitalize on lending opportunities at home as European Union recovery funds will flow in.
The stakes of existing Alpha Bank stakeholders will not be reduced by the planned share capital increase amounting to 800 million euros.
Alpha Bank said on Friday it had hired J.P. Morgan and Goldman Sachs as advisers on a plan to boost capital by about 800 million euros to fund growth plans.
Fitch Ratings has upgraded its estimates on the nonperforming loans index of Greek banks, factoring in the new securitization plans through the state’s Hercules 2 program, as well as the capital strengthening actions made by local lenders, such as Piraeus Bank’s recent share capital increase.
Geneva-based banking software company Temenos announced on Thursday that Eurobank has selected Temenos Wealth to strengthen its position in wealth management and affluent segment services.
![[Intime News]](https://www.ekathimerini.com/wp-content/uploads/2021/05/pierrakakis-5-320x200.jpg)
Digital Governance Minister Kyriakos Pierrakakis presented a new digital platform named “Know Your Customer” to Prime Minister Kyriakos Mitsotakis on Thursday which allows citizens to complete transactions and requests online instead of in person at banks.
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