Investment banks

Former Deutsche Bank CEO Josef Ackermann has been nominated as chairman of Bank of Cyprus, its US-based investors Wilbur Ross and Tyrus Capital said on Monday.

By Dinesh Nair, Ercan Ersoy & Ruth David

National Bank of Greece SA has hired banks including Goldman Sachs Group Inc. to sell as much as 40 percent of Turkish unit Finansbank AS in a secondary share offering, three people with knowledge of the matter said.

The European Banking Authority will for the first time publish details of banks’ losses from fines and litigation when it releases the results of European Union-wide stress tests later this year.

By Kiel Porter, Marcus Bensasson and Aaron Kirchfeld

The private-equity units of Goldman Sachs Group Inc. and Deutsche Bank AG are nearing an agreement to purchase the buyout arm of National Bank of Greece SA, according to two people with knowledge of the matter.

Smartphones and tablets are among the items most frequently bought on deferred payment plans in Bulgaria, shows an analysis of the BNP Paribas Personal Finance company. 

Lawmakers are due to have a first-reading say on changes to the Penal Code envisaging up to 10 years of imprisonment for spreading misleading information on banks. 

Under amendment proposals submitted by Bulgaria's central bank BNB, those disseminating information potentially leading to a surge of panic among citizens could face between two and five years behind bars.

By Yiannis Papadoyiannis

A large window of opportunity has opened for the faster privatization of the country’s systemic lenders and the state’s immediate recovery of a significant share of the funds placed in sustainable banks thanks to the exceptionally favorable investment mood regarding Greece on the grounds of its imminent economic rebound.

By Yiannis Papadoyiannis

One after another, 13 foreign credit institutions and investment firms have announced their predictions for a rise in the share prices of Greece’s systemic banks that averages out at 18 percent above the current levels, reflecting their strong expectations for the country and foreign investors’ ever-growing willingness to expose themselves to Greek risk.

JPMorgan Chase & Chief Executive Officer Jamie Dimon said he has been diagnosed with throat cancer but that the ailment is curable and he plans to remain actively involved in the largest US bank's business.

By Ilias Bellos

Jamie Dimon, the chairman and chief executive officer of JPMorgan Chase, is expected to arrive in Athens on Wednesday for a two-day visit and will likely meet with Prime Minister Antonis Samaras in the afternoon. He will also hold meetings with a number of Greek bankers, entrepreneurs and shipowners.