Would Greek Banks Survive a Global Financial Crisis?
The shares of Greek banks took a hit on Wednesday following fears of a global meltdown after the troubles of banking giant Credit Suisse. Piraeus Bank and Alpha Bank closed with losses of 10.98 percent and 10.39 percent respectively, with...
Fitch Upgrades Rating of Three Major Greek Banks
Credit ratings agency Fitch raised on Monday the credit rating of three major Greek banks: Eurobank, National Bank of Greece and Alpha Bank. Last Friday, the credit rating of Greece's economy was raised to one notch below investment grade. The...
Moody’s Upgrades the Four Largest Greek Banks
The credit agency Moody's upgraded on Monday the long-term deposit ratings of the four biggest Greek banks, and said that the outlook for all of them is positive. The upgrade, "driven by their improving asset quality and solvency and good...
Bank of Greece: Financial System Remained Resilient Through Pandemic
The Greek financial system remained strong throughout the Covid-19 pandemic, the Bank of Greece stated in its Financial Stability Review.
Piraeus Bank Secures Support for Capital Increase
Piraeus Bank, Greece’s second-largest financial institution has secured strong support from investors during the capital increase process .
ECB: Greece Should Complete Reforms to Help Banks Reduce Bad Debt
Greece should complete the reforms needed to help banks reduce bad debt and deal with the impact of the COVID-19 pandemic, the European Central Bank said, according to Reuters. The coronavirus crisis has stalled the efforts of Greek banks to...
Greek Government Attributes Bank Shares Sell-off to 'Speculative Pressures'
The Greek government attributed Wednesday's bank share massive sell-off and the sharp drop of the general index in the Athens Stock Exchange to "speculative pressures". Prime Minister Alexis Tsipras called an emergency meeting with competent ministers and officials to discuss...
Goldman Sachs: Greek Banks have Limited Ability to Withstand Shocks
Greek banks have a limited ability to withstand external or internal shocks, a Goldman Sachs report says. According to Capital.gr website, Goldman Sachs representatives were in Athens and had contacts with bank executives and policy makers in order to assess...
Greece Further Relaxes Capital Controls to €5,000 per Month
Greece's finance ministry has further relaxed capital controls with a decision sent for publication in the Government Gazette on Thursday, raising the monthly limit for cash withdrawals to €5,000 ($5,850) per depositor a month, from €2,300 at present. The decision...
Greeks May See Further Easing of Capital Controls
Reports in Greece are suggesting bank customers will see the amount they can withdraw each month rise to between €4,000-€5,000 ($4,700-$5,880). Currently there are capital controls on Greek account holders, restricting them to withdrawals of up to €2,300 per month. If...