Finance

The US Congress has approved financing through borrowing for ONEX Shipyards to carry out the consolidation plan for Elefsis Shipyards.

The US International Development Finance Corporation (DFC), America's development bank, will provide the amount of $125 million.

This financing will be the first so far from DFC for Greece.

The Public Debt Management Agency announced on Friday that on Wednesday it will auction 26-week treasury bills in book entry form with maturity on December 29.

The settlement date is Friday, June 30.

Hellenic Bank, Cyprus' second-largest lender, has reported a profit of 69.7 million euros for the first quarter of 2023, signaling a strong start to the year.

Two in every three borrowers who reached the penultimate step before the final submission of their application to join the mortgage installment subsidy program have canceled it on their own initiative, as a result of which the number of beneficiaries is only 4,527 to date.

Alpha Bank on Wednesday announced it had successfully completed the issuance of a 500-million-euro senior preferred bond.

The issue attracted strong demand amounting to €1.3 billion, or roughly three times the initial target of €400 million.

Pancreta Bank will make the first significant and fundamental step toward the creation of a strong bank in Greece with the full absorption of HSBC's operations in the country on July 28.

This will be followed by the completion of the mergers with Central Macedonia Bank and with Attica Bank. 

After July 1, pensions will increase by 12%, Minister of Labor and Social Affairs Ivanka Shalapatova told bTV.

She stated that Finance Minister Asen Vassilev confirmed that there is money in the budget for the increase in pensions under the so-called swiss rule

This means that pensions from 467 leva will increase to 523 leva.

How would you feel if your neighborhood bank operated one day as National, the next as Eurobank, the third as Alpha Bank, the fourth as Piraeus and the fifth as a cooperative lender?

The management teams of Greece's four systemic banks received a very positive welcome from the representatives of international institutional portfolios at the three-day European banking roadshow organized last week by Goldman Sachs in Paris, sources have indicated. 

The New Democracy party, which is poised to win the June 25 election, is planning for a more flexible pension reduction regime for retirees who still want to work, with the aim of legalizing their employment, but also of staffing businesses that are unable to fill job vacancies with experienced employees.