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First round of HFSF's divestment from systemic banks concludes with 28 bln realised losses
EconomyBankingThe Hellenic Financial Stability Fund (HFSF), which was set up at the start of the debt crisis to support the banking sector, completed last week the first round of sales of its stakes in the four systemic banks, realising record losses for the Greek state.
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Sale of Alpha, NBG stakes move state's bank divestment forward as realised losses near 12 bln
EconomyBankingThe Greek government is moving ahead swiftly with the execution of its plan to divest from the Greek systemic banks. Since Eurobank bought back a small 1.4 pct stake held by the state, the sale of the stake in Alpha Bank has been completed and the process for divestment from National Bank (NBG) shares has been launched.
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Alpha-UniCredit deal marks step change in developments for banking sector
EconomyBankingThe developments in the Greek banking sector moved up a gear on Monday with the announcement of a strategic partnership between Alpha Bank and Italy’s UniCredit, a deal that includes the Romanian business of the two parties, the sale of the Greek lender’s insurance and the prospect of UniCredit acquiring the 9 pct stake in Alpha held by HFSF.
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State braces for losses as bank divestment plan is put into action
EconomyBankingThe Hellenic Financial Stability Fund (HFSF) formally launched last week the process of divesting its small participation in the share capital of Eurobank.
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HFSF sets out bank divestment strategy, marking final chapter in turbulent story
EconomyBankingThe Greek authorities moved a step closer last week to their objective of divesting the state’s share in the systemic banks through the Hellenic Financial Stability Fund (HFSF) after the publication of the divestment strategy that was compiled by Rothschild and was approved by the Finance Ministry at the end of last year.
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BoG and HFSF schemes under scrutiny as banks look for a way forward on bad loans
EconomyBankingBanks continue to make progress on reducing their bad loans, with the Bank of Greece (BoG) presenting its strategy for reducing bad loans to the European Commission at the end of last week.
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Amid market turbulence, Greece searches for scheme to help banks reduce bad loans
EconomyBankingFollowing weeks of uncertainty and pressure on the banking sector, which climaxed in a big drop in bank share prices on Wednesday, there have been reports of efforts to provide the Greek lenders with assistance.
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HFSF records losses of 1.2 bln in 9-month amid revaluation losses from bank holdings
EconomyBankingThe Hellenic Financial Stability Fund (HFSF) posted net losses of 1.25 billion euros in the 9-month period of 2016 from 8.89 billion a year ago, its interim financial report showed on Friday.
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HFSF posts losses of 1.1 bln in H1 weighed down by valuation losses of bank holdings
EconomyBankingThe Hellenic Financial Stability Fund (HFSF) recorded net losses of 1.14 billion in the first half of 2016 from 4.15 billion in the corresponding period last year, according to the interim financial report published on Wednesday
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Government steps in as NBG row takes new twist
EconomyBankingJust one day after the election of the new chairman at the National Bank of Greece (NBG), which was seen as providing respite in the recent dispute between the NBG top management and the bank’s major shareholder, the Hellenic Financial Stability Fund (HFSF), things appear to be flaring up again at the lender.