Calamos Supports Greece

Alpha Bank

Greek Banks Bad Loans Hit $62 Billion

Whacked by big losses from government-imposed debt write-downs on investors that means they will need a recapitalization of some 50 billion euros ($66 billion) Greek banks are also staggering under the weight of 46.8 billion euros ($61.8 billion) in...

Greek Banks Need $36.3 Billion Injection

Greece’s four largest banks need to boost their capital by 27.5 billion euros ($36.3 billion) after taking huge losses from the government-imposed debt swap earlier this year, the largest sovereign restructuring in history. The National Bank of Greece, the country’s...

Greece's Big Banks Need Bailout Too

Greece’s four biggest banks have reported they were so battered by losses imposed by a previous government on investors that they will need a 27.4 billion euros ($36.29 billion) injection as they try to stem more losses as the...

Investors Agree to Greek Bond Buyback

Holders of Greek bonds, including Greek banks as well as foreign institutions, have agreed to sell back some 30 billion euros ($38.8) of their holdings, government officials said, meeting a target to release a series of $56.7 billion in...

Greek Housing Market Falling Down Fast

With austerity measures cutting deep into consumer spending and construction, the Greek housing market has taken an especially big hit, with an 80 percent decline in building in the last five years, since the country’s recession began. Unable to pay...

Crédit Agricole to Sell Emporiki to Alpha Bank for €1

Crédit Agricole SA said Wednesday it will sell its Greek banking arm Emporiki to Alpha Bank for €1 ($1.31), and said its bottom line would take a hit of €2 billion as a result of the sale. The deal will...

Credit Agricole to Pick Alpha for Final Talks on Emporiki Sale

France's Credit Agricole (CAGR.PA) is expected to pick Alpha Bank (ACBr.AT) as the preferred bidder for its ailing Greek unit Emporiki Bank, a banking source close to the talks said on Sunday. "They picked Alpha as the preferred bidder," the...

New Tragedy Shakes Paros Island After the 15-year-old Teen Assault Case

A taxi driver who tried to stop a bank robbery in the popular resort Naoussa on the island of Paros was shot and killed, police said. Three gunmen invaded an Alpha Bank branch about 8:20 a.m. on Aug. 10...

Alpha Bank Offers to Buy Emporiki

Greece's Alpha Bank says it has made an offer to French lender Credit Agricole to buy its Greek subsidiary, Emporiki Bank. A statement from Alpha Bank Tuesday said it had made an offer to buy all the shares in Emporiki...

FT: Credit Agricole Eyes Greek Unit Sale

French bank Credit Agricole is in talks to sell its Greek Emporiki Bank unit and has received interest from three local lenders, the Financial Times reported, in the latest sign French banks are drawing back amid ongoing instability on...