Greece
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Piraeus Bank

Piraeus Bank Close to Buying French-backed Geniki

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...

Greece Finds the Answer – Arrest All Debtors (If They’re Poor)

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...

Piraeus Bank Takes Over Ailing ATEbank

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...

Double STP Excellence Award to Piraeus Bank by DEUTSCHE BANK

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...

Greek Banks Looking for More Government Money

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,...

Greece Recapitalizes Biggest Banks With 18 Billion Euros

ATHENS – With Greece’s bank sector reeling in the wake of big losses imposed by the government as part of a deal with international lenders to reduce its debt, the country’s four largest banks have been given 18 billion...

Piraeus Bank Sues Reuters News Agency Over Published Article

On April 2, Reuters news agency published an article about "strange" property deals between the Greek Piraeus Bank and its Chairman family members. But Piraeus Bank sued both the news agency and the article's author, Stephen Grey, over "malicious defamation...

Greek Banks Could Nix Loans to Ship Owners

ATHENS – Greece’s shipping industry, which pays no income taxes to its homeland, may find it difficult to get more financing from Greek banks because of the economic crisis that has created a deep recession and has threatened to...

Bank Manager in Thessaloniki Embezzles 2.4 Million Euros

The manager of the Piraues Bank branch in Thessaloniki has been charged with embezzling 2.4 million euros from her clients’ accounts within the past 3 years. The 46-year-old woman removed the money from the accounts of eight clients and transferred it...