posted improved net profits in H1 2019 of EUR 24.2 mln slightly up from EUR 24.1 mln in the same six-month period last year.
Cyprus Ltd, the Cypriot subsidiary of Greece's Eurobank
, generated an after-tax profit of e1/424.1m in the first half of the year compared to a e1/441.1m profit in the entire financial year 2017, the bank said on Tuesday.
At the same time the agency has upgraded NBG's and Alpha's Viability Ratings (VRs) to 'ccc+' from 'ccc' and affirmed Piraeus and Eurobank
's VRs at 'ccc'.
Ergasias said it expects the Bulgarian economy to expand by 3.8% in 2017 and to slow its growth to 3.5% in 2018.
Global Banking News-July 26, 2016--EBRD to invest in eurobank
to promote business in Greece
M2 EQUITYBITES-May 18, 2016-Alpha Bank, Eurobank
and KKR to Support Greek Companies through Pillarstone Platform
ATHENS, Greece (Reuters) -- Billionaire investor Wilbur Ross, a major shareholder in Greece's Eurobank
, said Saturday that diluting shareholders of the banks during their recapitalization could turn off private-investor interest in the lenders.
The deal is aligned with the restructuring plans for Alpha Bank and Eurobank
, as approved by the European Commission in 2014, which specify, among other things, that each bank should focus its operations only on its core markets.
Alpha's acquisition of Emporiki Bank and Eurobank
's acquisition of New Hellenic Postbank and New Proton Bank have given them critical mass with EUR74bn and EUR82bn total assets at end-H113, respectively.
Summary: Greek banks NBG and Eurobank
are seeing their stock plunge 30 percent -- the maximum allowed in a day -- after news that their planned merger has been postponed.
Burgan Bank, one of Kuwait's leading banks with a regional presence in Jordan, Iraq, Algeria and Tunisia, has completed its acquisition process to acquire a 99.26 per cent stake in Eurobank
Tekfen from Eurobank
EFG for a deal value of KWD 98.88 million (approximately TRY 627 million).