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United Kingdom

George Georgiopoulos

Alpha Bank nears deal to sell bad debt portfolio to Fortress - sources

25 Jun 2020

ATHENS/LONDON Alpha Bank , Greece's fourth-largest lender, is close to finalising a deal to sell a portfolio of bad loans worth more than 1 billion euros (£902 million) to U.S. investment manager Fortress Group, three sources familiar with the matter told Reuters.

Piraeus Bank hires advisers to auction off $7.8 billion of bad loans: sources

19 Jun 2020

ATHENS/LONDON Piraeus Bank has hired JPMorgan and UBS to sell two portfolios of soured loans worth about 7 billion euros as it scrambles to clean up its balance sheet and tackle a new debt crisis triggered by the novel coronavirus, sources told Reuters.

RPT-Alpha Bank in talks with Cerberus, PIMCO to sell $11 bln of bad loans - sources

17 Jun 2020

LONDON/ATHENS, June 16 Greece's Alpha Bank is in talks with at least five U.S. investment firms including Cerberus and PIMCO in a fresh attempt to offload a portfolio of bad debt worth more than 10 billion euros ($11.3 billion), two sources told Reuters.

Alpha Bank in talks with Cerberus, PIMCO to sell $11 billion of bad loans: sources

16 Jun 2020

LONDON/ATHENS Greece's Alpha Bank is in talks with at least five U.S. investment firms including Cerberus and PIMCO in a fresh attempt to offload a portfolio of bad debt worth more than 10 billion euros ($11.3 billion), two sources told Reuters.

UPDATE 1-Greek banks NBG, Alpha up provisions to cover coronavirus loan impact

28 May 2020

ATHENS, May 28 National Bank (NBG) and Alpha, two of Greece's largest lenders, increased provisions to cover anticipated loan impairments from the coronavirus crisis as they kicked off the first quarter earnings season for the sector on Thursday.

The cost of coronavirus: Greek tourism slump threatens a decade of hard-won gains

11 May 2020

ATHENS About now, Charlie Chahine should be welcoming his first international guests of the season to his Suites of the Gods resort on Santorini, Greece's most popular holiday island. | Video

Greece sees economy tanking this year on coronavirus impact - stability programme

03 May 2020

ATHENS Greece expects its economy to contract by 4.7% to 8.9% this year under baseline and adverse scenarios taking into account the impact of the coronavirus pandemic, the government's 2020-21 stability programme submitted to the EU Commission projects.

Greece plans gradual relaxation of lockdown measures

28 Apr 2020

ATHENS Greek Prime Minister Kyriakos Mitsotakis said on Tuesday restrictions on citizens' movements would be lifted and more shops allowed to reopen from May 4 in a gradual easing of a lockdown imposed to curb the spread of the new coronavirus.

Coronavirus derails southern Europe's clean-up from the last crisis

09 Apr 2020

MILAN/ATHENS/LONDON This year was meant to mark a turning point for Greek and Italian banks as they finally laid the ghosts of the financial crisis to rest. Then the coronavirus struck.

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