Deadlock at NBG over chairman appointment

EconomyBanking Tags: Banking, Construction, HFSF, NBG, Piraeus
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

While it is widely acknowledged that the key challenge for Greek banks going forward is tackling the huge stock of non-performing exposures (NPEs), a new complication emerged over the past few days regarding the appointment of a new chairman at National Bank (NBG).

The bank’s Board of Directors (BoD) convened last Thursday and chair Louka Katseli resigned. This move was expected as she does not fulfil the criteria set by the European Central Bank’s Single Supervisory Mechanism (SSM) for holding a top position in a...

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