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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...

Greek Insurance Conglomerate Ethniki Sold to Private Fund

The leading Greek insurance company Ethniki Insurance, was sold to CVC Capital Partners Fund VII, a private equity firm.

Greece's National Bank Reports 457-Million Euro Profit in First Half of 2020

Greece's National Bank recently reported impressive profits despite the worldwide economic downturn caused by the coronavirus pandemic this year. The National Bank Group announced that its after-tax profits totaled 457 million euros in the first half of 2020, up from...

The Top Greek Exports that Helped Greece Through the Financial Crisis

When it comes to how Greece has stayed afloat throughout the financial crisis that has gripped the nation since 2010, it is no surprise that products that contributed to the country's economy are certain dynamic exports that are exclusive...

EXIN Buys 75% of Ethniki Insurance in 718 Million Euro Deal

The acquisition of 75% of the Ethniki Insurance, a subsidiary of the National Bank of Greece (NBG), was announced by the Dutch EXIN, which agreed to pay 718 million euros. Ethniki Insurance was founded in 1891 and became a cornerstone...

National Bank of Greece Elects New Chairman Panayiotis Thomopoulos

On Thursday the National Bank of Greece elected Panayiotis Thomopoulos as its new chairman, replacing chairwomen Louka Katseli. Thomopoulos is the former deputy governor of the Bank of Greece and the former chairman of the Hellenic Financial Stability Fund.

Onassis' Mercedes to Be Auctioned Off Along With Dreams of Better Times

The National Bank of Greece (NBG) is auctioning off Onassis property. In particular, Alexander Onassis' Mercedes 1972 and items of furniture are being sold off 43 years after the tragic airplane accident that cost Aristotle Onassis' only son his life. The...

Former Greek Minister Gerasimos Arsenis Dies at 85

On Tuesday afternoon, former Greek Minister Gerasimos Arsenis, died at the age of 85. Gerasimos Arsenis had been hospitalized for the past month and his death is most likely attributed to upper respiratory infection. Gerasimos Arsenis was born in Cephalonia in...

Head of Banking Body: Political, Economic Stability Key in Allowing Banks to Support Economy

Political and economic stability as well as the effective management of non-performing loans (NPLs) are two of the five main preconditions that would allow the domestic banking system to contribute effectively to Greece’s growth and provide loans to small...

Tsipras Attempts to Please All Sides During Speech at National Bank of Greece

Greek Prime Minister’s speech on launch of the National Bank’s Act4Greece program had a bit of everything for everyone, thereby adding further weight to claims to Alexis Tsipras’ radical days are long behind him and that his main goal is...