Bank

 Senior officials say best-case scenario will see growth drop from 2.9 to 2.5 percent, and loan issues shrink

By Yiannis Papadoyiannis

The early general election and the ensuing freeze of economic activity will lead to fewer loan issues and a lower growth rate in 2015, according to bank officials? estimates.

In 20 work days, since December 4, the Bulgarian Deposit Insurance Fund (BDIF) has paid off 90% of the insured deposits at the Corporate Commercial Bank (KTB, Corpbank), or BGN 3 250 000 000, according to BDIF Chair Radoslav Milenkov.

Bulgaria guarantees bank deposits of up to EUR 100 000.

 Outflow of deposits still manageable, but any unilateral moves could see local lenders starved of cash

By Yiannis Papadoyiannis

The issue of cash flow in Greece will be among those to be discussed during Wednesday?s scheduled board meeting of the European Central Bank, with Greek central banker Yannis Stournaras informing his peers of liquidity conditions in this country.

By Nicholas Comfort

Europe?s biggest banks have limited risk tied to Greece after selling local units and cutting holdings of the country?s bonds, according to JPMorgan Chase & Co.

The Turkish state-run Ziraat Bank has been granted a banking license by the Central Bank of Azerbaijan, marking its entrance into the lucrative market.

The banking sector in Azerbaijan experienced high growth rates in 2013, according to a report released by the World Bank in October 2014.

BELGRADE - Banks in Serbia had a total of EUR 27.475 billion in October this year, the National Bank of Serbia (NBS) has said in a statement.

Greece's fourth-largest lender Alpha Bank will launch a joint venture with Spanish financial services firm Aktua Soluciones Financieras to manage a substantial chunk of its non-performing loans, it said on Wednesday.

BELGRADE - The Serbian parliament has adopted five financial laws submitted by the National Bank of Serbia (NBS).

Under the Law on Insurance adopted on Thursday, insurance companies will no longer be allowed to engage in life and non-life insurance activities simultaneously.

Bulgaria's Government will discuss on Wednesday a new bank law which will provide better guarantees for the bank deposits, reports the bTV national channel.

The law was drafted by the Finance Ministry and will introduce the EU rules for deposit guarantees.

The guaranteed sum will remain the same - EUR 100 000 or their equivalent.

By Dimitra Manifava

The Development Ministry appears unwilling to grant another extension to the implementation of a law protecting primary residences from repossession by banks over unpaid debts, as it believes that the legal framework dating from 2010 is sufficient to protect homeowners in financial difficulties.