Edition:
United Kingdom

George Georgiopoulos

Greek economic growth slows, net exports are main driver

05 Dec 2019

ATHENS Greece's economy continued to recover in the third quarter, driven by net exports, but its expansion slowed from the second quarter amid weaker consumer spending and investments.

Eurobank, NBG report higher profits as they tackle bad loans

21 Nov 2019

ATHENS Eurobank and National Bank (NBG) , two of Greece's largest lenders, on Thursday reported higher third-quarter profits showing the benefits of clearing bad loans from their balance sheets.

Italy's doValue leads race for Eurobank's loan recovery unit: sources

19 Nov 2019

LONDON/ATHENS Italy's biggest loan recovery firm doValue has emerged as the strongest bidder for Eurobank's loan servicing unit, sources familiar with the matter told Reuters, a deal critical for the turnaround of Greece's third largest lender.

UPDATE 2-Alpha Bank plans 12 bln euro bad loan sale, profits fall

19 Nov 2019

* Will apply for up to 3.7 bln euros in govt guarantees (Adds carve out of loan servicing platform)

Exclusive: Greece plans to sell off pension arrears to get cash upfront

14 Nov 2019

ATHENS Greece plans to sell billions of euros of social security contributions owed to its pension fund to private investors to get cash upfront and facilitate recovering other receivables, senior government officials told Reuters on Thursday.

EXCLUSIVE-Greece plans to sell off pension arrears to get cash upfront

14 Nov 2019

ATHENS, Nov 14 Greece plans to sell billions of euros of social security contributions owed to its pension fund to private investors to get cash upfront and facilitate recovering other receivables, senior government officials told Reuters on Thursday.

Eurobank decides PIMCO, doValue bids for FPS both acceptable: sources

12 Nov 2019

ATHENS Eurobank's board concluded on Tuesday that competing offers by U.S. funds group PIMCO and Italian bad loan specialist doValue for the Greek bank's loan-recovery unit FPS were both satisfactory, banking sources told Reuters.

Greek competition watchdog raids banks in pricing probe

07 Nov 2019

ATHENS Greece's competition authorities raided the country's main commercial banks on Thursday in a probe on pricing and commission practices, witnesses and bankers with knowledge of the matter told Reuters.

Piraeus, Intrum set up largest bad loan servicer in Greece

01 Nov 2019

ATHENS, Nov 1 Greek lender Piraeus Bank's partnership with Swedish loan servicer Intrum to manage bad loans will create the biggest independent loan servicer in the Greek market, executives at both firms said on Friday.

Rights groups attack Greece on asylum plan, PM says burden is heavy

29 Oct 2019

ATHENS Human rights groups urged Greece on Tuesday to scrap plans they say will restrict access to protection for asylum seekers as the government said the burden of dealing with an influx of migrants was getting too heavy to bear.

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