National Bank

 National and Alpha were forced to increase their provisions

Two of the country?s biggest lenders, National Bank and Alpha Bank, announced on Thursday an increase to net losses in the first quarter of the year, which reflect the deterioration of economic conditions in Greece and which forced them to expand their provisions to cover nonperforming loans.

The government is planning to issue a special card to 150,000 citizens through National Bank of Greece which they will be able to use to purchase food as part of a new program to help the poor designed by the Labor Ministry.

By Yiannis Papadoyiannis

The heads of Greece?s four systemic banks stress the need for an agreement between the government and the country?s international creditors to end uncertainty and put the economy back on the path to growth.

By Roula Salourou

The Finance Ministry is locked in a constant battle to make sure that it has the necessary liquidity for the unhindered payment of salaries and pensions, despite any technical or other problems.

Police have have redoubled their efforts to trace Spyros Dravilas, a 34-year-old being sought in connection with armed robberies involving jailed Revolutionary Struggle leader Nikos Maziotis, after an investigation pointed to Dravilas?s involvement in a heist last Thursday on a bank branch in the small town of Farkadona, near Trikala, central Greece.

Fitch Ratings said in a statement on Tuesday that the Greek government?s intention to create a ?bad bank? is a positive step toward achieving reform because it recognized that high volumes of nonperforming loans (NPLs) are impeding new lending.

Greece?s largest lender by assets National Bank (NBG) reported on Monday it swung to a loss in the fourth quarter as higher provisions for impaired loans weighed on its bottom line.

By Ilias Bellos

Majority stakeholder National Bank and interested investors are making a last-ditch effort to avert failure of the Astir Palace Resort sale, which has stumbled on the objections the Council of State to a presidential decree approving a radical revamp of the Astir plot at Vouliagmeni, and of the Mikro Kavouri peninsula more generally.

Payments on a swap originally arranged by Goldman Sachs Group Inc in 2001 are due on Friday, said a person familiar with the matter who asked not to be identified publicly.

The derivative, now held by the National Bank of Greece, masked the country?s growing debt, helping it meet European Union rules for entering the euro area.