National Bank of Greece

Fitch Ratings has affirmed National Bank of Greece's Covered Bond Program I (NBG I) at B with a positive outlook.

The rating action follows the segregation of 1.2 billion euros of assets for the benefit of the program, performed on November 30.

Fitch Ratings announced on Thursday it had placed the CCC Viability Ratings of National Bank of Greece, Alpha Bank, Piraeus Bank and Eurobank on Rating Watch Evolving (RWE).

[Reuters]

NOVI SAD - OTP Bank Serbia, owned by Hungary's OTP Bank, announced on Monday it had successfully completed the acquisition of Vojvodjanska banka.

The European Bank for Reconstruction and Development said on Thursday it had invested in the first publicly sold covered bond issued by a Greek bank since the government in Athens returned to international bond markets this year.

The development bank said it bought 30 million euros of the 750-million-euro offering by the National Bank of Greece.

The European Central Bank could buy covered bonds issued by National Bank of Greece under its asset purchase scheme, providing indirect support for the Greek economy, according to financial sources familiar with the matter.

The covered bond issue by the National Bank of Greece was completed on Tuesday, becoming the first Greek lender to tap the market since 2014 and securing the amount of 750 million euros at a rate of just 2.9 percent, far below the original estimate for 3.25 percent.

National Bank of Greece and the Exin Group submitted on Thursday to the Bank of Greece a draft set of documents for the acquisition of NBG subsidiary Ethniki Insurance by Exin Financial Services Holding, paving the way for the implementation of the deal signed in June.

National Bank of Greece has announced plans for a euro-covered benchmark, the first Greek bank bond in the public market since 2014 and a crucial step in normalizing its funding after years of costly central bank support.

National Bank of Greece (NBG) is close to mandating a 300-million-to-500-million-euro three-year covered bond, according to sources familiar with the matter, which would be the first Greek bank bond sold since 2014.

National Bank of Greece announced on Friday it had signed an agreement to sell its Vojvodjanska Banka unit in Serbia and NGB Leasing as well as its corporate loan portfolio in Serbia to Hungary's OTP Bank for 125 million euros.

OTP said in statement that the deal includes other Serbian units of National Bank of Greece too.