banking
Greece
Hellenic Bank Association Says Banking System Stabilized in 2016
The Greek banking sector stabilized in 2016 showing clear signs of improvement, the Hellenic Bank Association (HBA) said in a press release on Tuesday after a meeting of the body’s leadership with Prime Minister Alexis Tsipras.
According to HBA, banks...
Greece
Greece Has €5.26 Billion Euros of Gold Reserves, Half of Which is Abroad
Greece reported having some 149.1 tonnes of gold reserves at the end of 2016 amounting in the value of 5.26 billion euros, according to reports by Reuters.
Almost half of that gold is kept in vaults abroad, and after a Greek...
Greece
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)...
Greece
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...
Economy
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...
Greece
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...
Cyprus
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...
Greece
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...
Greece
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...
Greece
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...