Calamos Supports Greece

Alpha Bank

Big Pay For Alpha Bank Execs

Despite a law that says no private banker can be paid more than the head of the National Bank of Greece, eight executives at Alpha Bank, the country's third largest lender, were paid above the legal maximum permissible for...

Fitch Upgrades Greek Banks

Fitch Ratings has upgraded National Bank of Greece΄s, Piraeus Bank΄s, Alpha Bank΄s and Eurobank Ergasias΄ Long-Term Issuer Default Ratings to ΄B-΄ from ΄CCC΄, Short-term IDRs to ΄B΄ from ΄C΄ and Viability Ratings to ΄b-΄ from ΄f΄. The agency has also...

NBG OK's Bank Recapitalization Plan

The National Bank of Greece (NBG) has approved has approved a recapitalization plan worth 9.76 billion euros ($12.8 billion), insisting it will raise enough money privately to avoid nationalization after Eurobank failed to do so. Greece's banks were brought...

Eurobank Needs Full Recapitalization

Eurobank officials said the institution will need to put itself in the hands of the Greek state’s lender support fund, which will fully and immediately implement its recapitalization, and draft a strategy toward strengthening the lender via the acquisition...

Provopoulos Says Greek Deposits Safe

With media speculation that the apparently abandoned proposed merger of National Bank of Greece and Eurobank could lead to the government going after bank deposits as Cyprus did, the head of the central bank, George Provopoulos, reiterated that all...

Troika Freezes National-Eurobank Merger

The announcement that the National Bank of Greece and Eurobank will stage their recapitalization has effectively frozen plans for them to merge as the government wanted, but which was opposed by the country's international lenders, the Troika of the...

Bank of Greece Acquires Eurobank

With Greek banks still reeling from big losses imposed by the government in a desperate bid to write down its staggering $460 billion debt, shareholders at Eurobank have voted to accept a buyout offer from the National Bank of...

Germans and Turks Eye Top Greek Hotels

The greatest luxury Greek hotels have drawn the attention of investors both in Greece and abroad, especially from Germany and Turkey.  According to Euro2day, a strong Greek and foreign presence in on its way, aiming to purchase many hotels,...

Four Banks Make Non-Binding Offers for Hellenic Postbank

Three of Greece's largests lenders and a smaller bank made non-binding offers to acquire the healthy assets of the country's state-controlled TT Hellenic Postbank SA (TT.AT), a banking official familiar with the process said, as regulators move to wind...

Greek Taxpayers Pay for Crisis

Analysts from Alpha Bank, in a weekly release of financial developments, have blistered Greece’s tax services for failure to perform properly and said that people who pay taxes are unfairly bearing the brunt of the country's economic crisis. They said...