Calamos Supports Greece

banking

Banks Concerned About January's Spike in Non-performing loans

Banks are becoming increasingly concerned about Greece's sudden rise in new bad loans since Janauary of this year. Banks sources have reported that the spike in January contrasts drastically the path that financial institutions thought the country's non-performing loans (NPLs)...

ELA Borrowing Ceiling for Greek Banks Remains Unchanged

European Central Bank's governing council on Thursday approved a request by the Bank of Greece to maintain the ELA borrowing ceiling for Greek banks to 46.3 billion euros, up to and including Thursday, March 9, 2017. The unchanged ceiling reflects...

BoG Governor Urges Greece and Creditors to Compromise Before It's too Late

Governor of the Bank of Greece, Yannis Stournaras, said on Monday, that time is running out for bailout review talks and stressed that Athens and its creditors must complete the country's bailout review by February's end. "Bailout review talks are...

Stournaras: IMF's Fiscal Forecasts Raise Many Questions

Bank of Greece governor Yiannis Stournaras said in a letter responding to the IMF’s report published on Monday -- which proposed among other measures, broadening the personal income tax base and rationalizing pension spending as well as reducing non-performing...

Piraeus Bank Announces Completion of Sale for Subsidiary in Cyprus

On Thursday Piraeus Bank announced the completion of the sale of a stake held in its subsidiary in Cyprus, Piraeus Bank Cyprus Ltd, to Holding M. Sehnaoui SAL for 3.2 million euros. In an announcement, the bank said that the...

Bank Deposits Increase to €127 Billion in 2016

In December and November banks are expected to see some 2 billion euros in deposits, according to credit sector officials. This news comes in addition to the increase of deposits in banks for 2016 thus far amounting in 500...

New Bill on 'Plastic Money' Allows Consumers to Build-up Tax-free Allowance

The draft bill tabled in Parliament last week will usher in a new way for tax-payers to "build up" their tax-free allowance as of January 1, 2017, exclusively through the use of debit and credit cards. Only transactions and...

Stournaras Warns of Penalties for Banks With Non-performing Loan Exposures

Bank of Greece's Yannis Stournaras has issued a stern warning to banks over non-performing loan (NPLs) exposures. On Monday a published interview with the Financial Times quotes Stournaras issuing a warning to banks who are unsuccessful at lowering their NPLs saying...

National Bank of Greece Selling Bulgarian Subsidiary

The Bulgarian subsidiary of the National Bank of Greece (NBG) is up for sale, according to banking industry sources who have reported that there are currently two bids to buy the bank. United Bulgarian Bank (UBB) is valued at 1.32...

Avoiding Capital Controls: Real Estate Revenues From Foreign Buyers Deposited in Banks Abroad

The majority of revenues of Greek luxury real estate transactions acquired by foreign nationals remain in banks outside of Greece, sources have reported. In fact, according to Yiannis Ploumis who is the general director at the Ploumis-Sotiropoulos real estate agency...