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EconomyBanking
Greece's ongoing divestment from banking sector creates new lender, stirs controversy The deal for the merger between Attica Bank and Pancreta raised more questions than the Greek authorities would have anticipated regarding what was presented as one of the final steps for the state to reduce its participation.
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EconomyBanking
First round of HFSF's divestment from systemic banks concludes with 28 bln realised losses The 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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EconomyBanking Sale of Alpha, NBG stakes move state's bank divestment forward as realised losses near 12 bln The 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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EconomyBanking
Alpha-UniCredit deal marks step change in developments for banking sector The 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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EconomyBanking
State braces for losses as bank divestment plan is put into action The 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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EconomyBanking HFSF sets out bank divestment strategy, marking final chapter in turbulent story The 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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EconomyBanking
BoG and HFSF schemes under scrutiny as banks look for a way forward on bad loans Banks 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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EconomyBanking
Amid market turbulence, Greece searches for scheme to help banks reduce bad loans Following 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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EconomyBanking
HFSF records losses of 1.2 bln in 9-month amid revaluation losses from bank holdings The 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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EconomyBanking
HFSF posts losses of 1.1 bln in H1 weighed down by valuation losses of bank holdings The 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