Piraeus Bank

Whacked by big losses from government-imposed debt write-downs on investors that means they will need a recapitalization of some 50 billion euros ($66 billion) Greek banks are also staggering under the weight of 46.8 billion euros ($61.8 billion) in...

Greece’s four largest banks need to boost their capital by 27.5 billion euros ($36.3 billion) after taking huge losses from the government-imposed debt swap earlier this year, the largest sovereign restructuring in history. The National Bank of Greece, the country’s...

Greece’s four biggest banks have reported they were so battered by losses imposed by a previous government on investors that they will need a 27.4 billion euros ($36.29 billion) injection as they try to stem more losses as the...

Greece's Piraeus Bank said on Friday it had reached a final agreement to buy Geniki Bank, the ailing Greek unit of French lender Societe Generale. Societe Generale, which controls 99.1 percent of Geniki, had said in August that it was...

As Greece struggles through a crushing economic crisis with many people unable to pay debts because of big salary cuts and tax hikes,  the two parties that ruled Greece for four decades before this year’s elections produced a coalition...

Piraeus Bank, Greece's fourth-largest lender, is close to a deal to buy Geniki Bank, media reports said on Aug. 29. Talks between the banks were said to be at an advanced stage and a deal could be reached as...

ATHENS -  Not content with taxing the poor to protect the rich, Greece is putting the arm on the penniless, starting with the arrest of an unemployed Cretan father of seven, whose wife was also jobless. He owed the...

ATHENS – The Greek government has agreed to hand over the performing loans and healthy assets of nearly-insolvent state-run ATEbank to the privately-run Piraeus Bank to keep it from closing, but the toxic assets will be given to the...

Piraeus Bank for yet another year has been honored by Deutsche Bank with the Quality Awards "EUR STP EXCELLENCE AWARD" & "US DOLLAR STP EXCELLENCE AWARD" in the Payments Sector. Piraeus Bank has been receiving these awards for nine...

ATHENS – Greece’s beleaguered banks, beset by nervous Greeks yanking out billions of dollars in the frantic period ahead of the critical June 17 elections and holding on thanks to an emergency injection of $23.9 billion in a bailout,...