The extra strong interest in the placement of the Hellenic Financial Stability Fund’s stake in Piraeus Bank, displayed from the first day, on Monday, has led to the sale of the entire holding of the state in the lender and at the top end of the price range, as offers exceeded 6 billion euros.
If the Bank of Greece did not operate under the protection of the institutional framework of independence, after what happened in 2015, the country would have perhaps left the eurozone, Bank of Greece (BoG) Governor Yannis Stournaras said on Saturday.
New lending by Cypriot banks declined significantly in January on a monthly basis, as it amounted to just 462.7 million euros, from €725.4 million in December.
Greek banks eye dividends on a par with the European average in the coming years.
The European Central Bank meets on Thursday, with markets eyeing any nudge towards an interest rate cut as inflation weakens.
Economy Minister Kostis Hatzidakis intends to raise the issue of fees for the use of credit or debit cards.
Greek central banker Yannis Stournaras is to sign a memorandum of cooperation between the Bank of Greece and the Central Bank of Cyprus on Friday.
In addition to the range of the sale price, the HFSF will also be asked to “ratify” the government’s decision.
Cyprus’ Hellenic Bank reported a substantial profit of 365.4 million euros in 2023, marking a significant upswing from €21.8 million in 2022.
The fact that the interest rate margin in Greece has been double the European average supports the high profitability of the country’s four systemic banks.
Turkey’s central bank left its key interest rate unchanged at 45% on Thursday, pausing a series of aggressive rate hikes aimed at taming high inflation.
Banks are responding to the climate of caution among households as regards taking out a loan with new cuts in mortgage rates, in a bid to spark the interest of potential new buyers. They are also extending, until the end of the year, the interest rate freeze in force since last May for existing borrowers. […]
Greece will proceed with the complete divestment of the state from Piraeus Bank with the disposition of the 27% it controls through the Hellenic Financial Stability Fund (HFSF).
Finance Minister Kostis Hatzidakis urged banks and terminal service providers to reduce fees for small-value transactions made via point-of-sale (POS) terminals, during a meeting with representatives from banks and payment service providers on Wednesday.
Key arguments in favor of the full divestment of the state from the lender.
The governor of the Central Bank of Cyprus has dispatched crucial correspondence to banks on NPLs.
