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.
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.
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.
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.
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.
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
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.
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.
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.
Beijing's top representative office in Hong Kong has warned the pro-democracy opposition's primary elections at the weekend could violate a new national security law, exacerbating concerns over a crackdown on the former British colony's democracy movement.