BANKING

part-of-cvc-payment-up-to-nbg-staff
BANKING

The degree of activation of the 3,800 employees in the National Bank of Greece’s network of 360 branches will determine the collection of about a third of the price CVC Capital partners has promised to NBG for the acquisition of 90.01% of the bank’s insurance arm, Ethniki.


eib-to-help-manage-greece-2-0
FINANCE

The European Investment Bank formally agreed on Monday to help manage up to 5 billion euros as part of Greece’s implementation of the National Recovery and Resilience Plan, known as “Greece 2.0.”

greece-gets-eu-okay-to-extend-hercules-bad-loan-reduction-scheme
BANKS & NPLS

Greece on Friday secured approval from EU competition regulators to extend its “Hercules” bad loan reduction scheme to help banks reduce the mountain of impaired credit burdening their balance sheets. The scheme was launched in October 2019 to help the country’s banks offload up to 30 billion euros of bad loans.


national-bank-amp-8217-s-chairman-not-to-seek-re-election
ECONOMY

National Bank of Greece on Monday announced that during a Board of Directors meeting held on April 3, Chairman Costas Michaelides announced his decision not to put up his candidacy for re-election at the annual general meeting of shareholders 2021, when his term of office comes to an end.


hfsf-considers-holding-on-to-a-33-3-stake-in-piraeus
BANKING

The Hellenic Financial Stability Fund (HFSF) wants to keep its holding in Piraeus Bank near the 33.3% that would allow it to be a controlling-minority shareholder after the lender’s upcoming share capital increase, according to the statement of the fund’s general board chairman, Andreas Verykios, in Parliament on Thursday.

moody-s-shift-greek-banks-outlook-to-positive
BANKING

Moody’s announced on Thursday it has changed the outlook of the Greek as well as the Cypriot banking systems from stable to positive, forecasting a 3.6% economic expansion this year in Greece, according to the agency’s Banking System Outlooks.

nbg-meets-pledges-with-ethniki-sale
BANKING

An issue that had been pending for about five years is being brought to a close with the transfer of 90.01% of National Bank of Greece’s insurance subsidiary, Ethniki, to CVC Capital.




new-npls-contained-at-e3-4-bln
BANKING

The annual results from three out of the country’s four systemic banks point to the creation of new bad loans amounting to 3-4 billion euros due to the pandemic, out of a total of €20 billion in loans whose servicing has been suspended.

more-leeway-for-hercules-loan-servicers
BANKING

The Finance Ministry is considering increasing the leeway for companies managing the nonperforming loans in the Hercules asset protection scheme, in terms of how long they have to hit their revenue targets while managing the portfolios they have undertaken, from 24 to 36 months.