Greece
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Piraeus Bank

Piraeus Bank Shares to Trade Ex-rights from June 5

Piraeus bank announced the completion of its offer to repurchase its outstanding preferred stocks and subordinated debt securities. Standard & Poor΄s Ratings Services announced yesterday it has raised to ΄CC΄ from ΄D΄ its issue ratings on its non-deferrable subordinated notes...

Fitch Upgrades Greek Banks

Fitch Ratings has upgraded National Bank of Greece΄s, Piraeus Bank΄s, Alpha Bank΄s and Eurobank Ergasias΄ Long-Term Issuer Default Ratings to ΄B-΄ from ΄CCC΄, Short-term IDRs to ΄B΄ from ΄C΄ and Viability Ratings to ΄b-΄ from ΄f΄. The agency has also...

NBG OK's Bank Recapitalization Plan

The National Bank of Greece (NBG) has approved has approved a recapitalization plan worth 9.76 billion euros ($12.8 billion), insisting it will raise enough money privately to avoid nationalization after Eurobank failed to do so. Greece's banks were brought...

Piraeus Bank Says Recap Plan Ok'd

With Greek banks on the ropes and awaiting an injection of 50 billion euros ($65 billion) in state funds, the country's second-largest lender, Piraeus Bank, said shareholders have approved a recapitalization plan that is intended to safeguard the bank's...

Eurobank Needs Full Recapitalization

Eurobank officials said the institution will need to put itself in the hands of the Greek state’s lender support fund, which will fully and immediately implement its recapitalization, and draft a strategy toward strengthening the lender via the acquisition...

Provopoulos Says Greek Deposits Safe

With media speculation that the apparently abandoned proposed merger of National Bank of Greece and Eurobank could lead to the government going after bank deposits as Cyprus did, the head of the central bank, George Provopoulos, reiterated that all...

Troika Freezes National-Eurobank Merger

The announcement that the National Bank of Greece and Eurobank will stage their recapitalization has effectively frozen plans for them to merge as the government wanted, but which was opposed by the country's international lenders, the Troika of the...

Greek Withdrawal Rush At Cypriot Branches

After being closed since March 15 during Cyprus' economic crisis amid fears depositors would rush to withdraw their money, 312 branches of Cypriot banks in Greece were back in operation on March 27 after being taken over by the...

Piraeus Bank Completes Acquisition of Cypriot Bank Units in Greece

Greece's Piraeus Bank said on Tuesday it agreed to buy the branches of all three Cypriot banks in Greece for 524 million euros ($675.04 million) in cash. The deal concerns the Greek units of Bank of Cyprus , Cyprus Popular...

Cypriot banks in Greece Which Remain Closed

Greece's Piraeus Bank expects to conclude deals to take over the Cypriot banks operating in Greece by noon on Tuesday, Greece's third-largest lender by assets said. On Friday Greece's bank bailout fund picked Piraeus to acquire the Greek operations of...