Finansbank

Greece?s biggest bank National Bank is considering options to meet any potential capital shortfall after a stress test later this year but has not finalized plans, which include options for majority-owned Finansbank in Turkey, a source at the bank told Reuters on Sept. 28.

National Bank of Greece still plans to eventually hold a public offering for some of its stake in Turkey?s Finansbank and is continuing work towards a share sale, Finansbank said on July 15.

Qatar National Bank and Bahrain?s Arab Bank Corp did not follow up early interest in acquiring HSBC?s Turkish business because they are more interested in National Bank of Greece?s Turkish arm Finansbank, two people familiar with the matter said.

The Turkish banking sector?s eyes are on Finansbank, 99.8 percent of which is owned by the National Bank of Greece (NBG), after the dramatic deterioration in the Greek economy, while a high level representative in Finansbank said any concerns about the bank?s deposit are baseless. 

The Finance and Advice for Women in Business Program, funded by the European Union, the European Bank for Reconstruction and Development (EBRD) and the Republic of Turkey, was introduced to local women-led businesses in the Central Anatolian city of Kayseri on May 28.

Turkey?s Finansbank, owned by National Bank of Greece, said on Wednesday that its net profit in the first quarter more than doubled to 283 million lira ($106.83 million).

The bank?s net profit in the same period of 2014 was at 129 million liras, it said in a stock exchange filing.

[Reuters]

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 Isobel Finkel

Finansbank, the Turkish lender owned by National Bank of Greece, has delayed a planned secondary public offering that must be held this year to cut the Greek investor?s stake in line with a European Commission agreement.

Turkey's Finansbank, owned by National Bank of Greece, said on Tuesday it secured a syndicated loan in two tranches of $397 million and 356 million euro ($442.6 million).

The loans will be used to finance foreign trade and has a maturity of 1 year, said the statement to the Istanbul stock exchange. [Reuters]

By Yiannis Papadoyiannis

National Bank of Greece on Wednesday announced it intends to go ahead with the sale of some of its shares in Turkish subsidiary Finansbank, alongside the latter’s share capital increase. However it will retain a 60 percent stake in the Turkish lender.