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Economy 29 Jun 2019 | 2:12 AM

The best first half for financial markets ever

LONDON: What a six months for financial markets. Global equities have piled on $8 trillion, bonds are on fire, oil prices have surged by almost a quarter and a Greek bank is one of the world's best performing stocks

Business 04 Jun 2019 | 12:00 AM

Piraeus Bank sets up platform with Intrum to service bad loans

ATHENS: Greece’s biggest lender Piraeus Bank says it has teamed up with Sweden’s Intrum to set up a platform to service its ?27bil (US$30bil) bad loan portfolio.

Business 30 May 2019 | 12:00 AM

Greece’s bad-debt monster is alive and kicking

Greece’s banks have staged a spectacular stock market rally this year. Shares of two of the country’s top four lenders - Piraeus Bank SA and National Bank of Greece SA - have more than doubled. The possibility of a change in government has spurred the latest bump - but investors’ optimism may be premature.

Business 29 May 2019 | 8:06 AM

Greece’s bad-debt monster is alive and kicking

GREECE’S banks have staged a spectacular stock market rally this year. Shares of two of the country’s top four lenders - Piraeus Bank SA and National Bank of Greece SA - have more than doubled. The possibility of a change in government has spurred the latest bump - but investors’ optimism may be premature.

Banking 27 Aug 2018 | 12:00 AM

CIMB now official member of UNEP-FI

KUALA LUMPUR: CIMB Group Holdings Bhd announced its official membership to the United Nations’ (UN) Environment Programme Finance Initiative Principles for Responsible Banking (UNEP-FI), making it the only banking group in Asean to be a founding member, together with 26 other leading banks from five continents and 19 countries.

Business 24 Jan 2018 | 12:00 AM

Greek stock rally holds on as traders prepare for end of bailout

ATHENS: The European equity market whose fortunes have swung on its country’s bailout dramas is holding on to a market-beating rally as the end of the aid programme approaches.

Business 03 Mar 2017 | 12:00 AM

Greece recovery faces obstacle

LONDON: Since the last eruption of Greece’s long-running crisis in 2015, banks in Europe’s most troubled economy have shored up capital, staunched losses and set up a plan to reduce their mountains of bad debt.

Business 28 Nov 2016 | 12:00 AM

Greek debt relief plan to entail US$35bil bank bond swap

ATHENS: Greece’s battered banks are being asked to swap about 33 billion (US$35bil) euros in floating-rate bonds for 30-year, fixed-rate securities under a euroarea plan to shield Athens from future interest rate increases, three people with knowledge of the matter said.

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