Aegean Baltic Bank

Greetings, the day after a significant political event, such as the expulsion of a prominent political figure from their party, is always “a cold day” for everyone who thinks a little more than just about…social media. After all, Mitsotakis himself has always been a moderate politician who thinks quite thoroughly and methodically about his moves and decisions.

The Standard & Poor’s on Thursday (4/7) upgraded the ratings for Greek banks, but did not assign an investment grade to the country’s credit institutions, citing their improving numbers and the upward trend in the Greek economy.

Standard & Poor's upgraded the long-term credit rating of the four systemic banks and Aegean Baltic Bank on Thursday, placing National and Eurobank one step before investment grade and, respectively, Alpha Bank and Piraeus two notches below investment grade.

A preliminary agreement for the acquisition of a package of shares in Aegean Baltic Bank (ABBank) has been signed, according to information, by the main shareholders of the bank and a venture controlled by billionaire investor Aristotelis Mystakidis.

Standard & Poor's on Tuesday raised the outlook of credit ratings of Greek banks, citing significant progress achieved by the financial institutions.

Greek lender Aegean Baltic Bank (ABBank) is about to be passed on to UK investment fund Chenavari, barring an unforeseeable event.

Procedures for the concentration of capital from small but developing banks are in full swing, with the focus on Aegean Baltic Bank (ABBank), Investment Bank of Greece (IBG) and Praxia. These three lenders are seeking to earn some space in the local credit sector by filling the gap that the four systemic banks have left in the crucial domain of financing the Greek economy.

Deposits in Greek banks recorded losses of 2 billion euros in the year to the end of last week, with the decline putting an end to the growth registered in the latter half of last year. Crucially, if the contraction continues it will undermine any prospects of a gradually easing of the capital controls anytime soon.