Thousands of workers in Greece are counting down to retirement in 2026, as transitional rules…
Tag: Greek banks
International investors increased their presence in the Athens Stock Exchange in 2025, pushing foreign participation…
The Bank of Greece (BoG) has reported a robust expansion in credit activity across the…
Starting Monday, cash withdrawals from Greek bank ATMs will be free of charge, following a new regulation aimed at eliminating unfair banking fees. A national cap of €1.50 will apply to third-party ATM providers.
Standard & Poor’s endorses Greece’s plan to repay first bailout loans early, projecting no impact on the country’s credit rating. The agency hints at a potential economic upgrade, citing improved external imbalances and a positive outlook for Greek banks, despite concerns over household debt.
Bank employees across Greece launched a 24-hour nationwide strike on Friday, protesting the sudden dismissal of three Attica Bank staff members, including a union board member. The strike, organized by the Federation of Bank Employees’ Organisations of Greece (OTOE), highlights escalating tensions between labor unions and bank management just weeks after a new collective agreement was signed.
A new wave of phone scams is targeting Greek bank customers, with fraudsters using “Caller ID Spoofing” to pose as bank employees and siphon off hundreds of thousands of euros. By faking bank phone numbers, scammers trick victims into sharing sensitive information like e-banking passwords or transferring funds. The Hellenic Bank Association and telecom authorities are blocking suspicious foreign numbers and urging customers to stay vigilant, hang up on suspicious calls, and never share personal details.
DBRS Morningstar has upgraded Greece’s credit rating to ‘BBB’ from ‘BBB-‘ due to improvements in the banking sector and a significant reduction in the country’s debt-to-GDP ratio. This marks a continuation of Greece’s positive fiscal performance, with expectations for strong economic growth and further debt reduction in the coming years. The upgrade reflects Greece’s progress in stabilizing its financial system and achieving fiscal targets, as well as the return of profitability for Greek banks after years of government support following the financial crisis.
Piraeus Financial Holdings (BOPr.AT), one of Greece’s four largest banks, has entered exclusive negotiations with private equity firm CVC Capital Partners (CVC.AS) to acquire a 70% stake in Ethniki Insurance.
Piraeus Bank is in exclusive talks to acquire a 70% stake in Ethniki Insurance for €469 million ($485.84 million), aiming to increase its fee revenue from 20% to 30%. The deal, which follows CVC Capital Partners’ 2021 acquisition of a 90% stake in Ethniki from National Bank of Greece, marks a significant move for Piraeus as it continues to recover after the financial crisis. With plans to return 35% of its 2024 profit to shareholders, Piraeus is also working with UBS and Milliman on the transaction.
Greek banks are bracing for a possible financial hit of approximately €100 million ($105 million)…
An OECD report highlights a staggering 69% rise in Greek housing prices since 2017, worsening the affordability crisis for local families. With nearly 27% of households spending over 40% of their income on housing—compared to a eurozone average of 9.4%—Greece faces the highest housing cost burden in the EU. The report also examines the impact of foreign buyers, rising mortgage risks, and government measures like the golden visa reforms and renovation subsidies.
The upgrades mainly reflect Fitch’s improved assessment of Greece’s operating environment (OE) to ‘bb+’. We expect the Greek economy to continue to outperform the eurozone average. Paired with falling unemployment and the deployment of the country’s Recovery and Resilience Fund, this should support banks’ ability to capture profitable business opportunities,” the credit ratings agency said.
Greece is set to finalise its post-crisis bank privatisations by early October with the sale of its remaining stake in the National Bank of Greece (NBG), according to sources. The Hellenic Financial Stability Fund (HFSF), which still holds 18.4% of NBG, plans to sell 10-13% of this stake. The move signals a recovery for Greece’s banking sector, which had been heavily supported during the debt crisis.
For the first time since 2008, Greek banks are set to distribute dividends totaling €814 million this summer, marking a significant recovery milestone. The European Central Bank’s approval has boosted investor confidence, with analysts forecasting robust future growth.
According to four bankers who spoke to Reuters on Wednesday, the European Central Bank (ECB)…
Fitch Ratings on Tuesday upgraded Greece’s four systemic banks ratings, following a recent round of…
Eurobank and Piraeus Bank reported strong profitability on Monday in the first half of 2023.…
Fitch raised the credit rating of three major Greek banks – Eurobank, National Bank of…
Greek Finance Minister Christos Staikouras has given the banks 10 days to “immediately and bravely”…
The Greek economy is expected to grow by 3.5% this year despite the war in…
Russian Embassy received complaints from Russians living in Greece about frozen accounts The Russian Embassy…
Four major Greek banks received a ratings boost on Monday following a review by international…
The credit profiles of Greece’s four systemic banks are expected to be improved faster as…
The Hellenic Banking Association (HBA) issued a warning on Wednesday about a new type of…
Fitch Ratings upgraded and affirmed the credit rating of three Greek banks, it revealed in…
Greece’s economic prospects were noted as more positive by the International Monetary Fund (IMF) than…
The Bank of Greece in its latest report on Tuesday noted an increase in private…
Greece’s finance minister Euclid Tsakalotos announced that as of September 1, Greek citizens will be…
