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ENGLISH EDITION

Chinese banks have ambitious plans for Greece

The entry of two giant Chinese banks in Greece is only a recent development and their presence remains discrete. But they have big plans for Greece as the country is part of the new Silk Road, placing the Mediterranean country within the strategic plans prepared by the Asian lenders. As of August 2018, Athens agreed with Beijing to participate in the new Belt and Road initiative even though Cosco had acquired the port of Piraeus much earlier.
ENGLISH EDITION

National Bank says net profit at 423 million euros in Jan-Sept

National Bank Group on Thursday said its net profit from continuing operations rose to 423 million euros in the January-September period from 61 million in the same period last year. Operating profit grew to 465 million euros in the January-September period, from 65 million last year, driven by strong core income, solid trading & other income aided by one-off gains, cost cutting and low CoR despite rigorous cleanup of the NPE book
ENGLISH EDITION

As Hercules bad loan plan delays, Greece loses another year

Completion of the Hercules plan, a proposal being put together by the Greek government to help banks offload nonperforming loans, has been pushed back to 2020, in a development that is also delaying other initiatives by banks to improve their balance sheets. Due to uncertainty stemming from the Hercules proposal, Greek lenders are unable to complete steps they have already announced and prepared 12 months ago, such as the Eurobank - Pimco deal.