PPC to securitise 1.5 bln in arrears to raise 300 mln in extra liquidity

The Public Power Corporation (PPC), Greece’s main electricity utility, intends to immediately proceed with the securitisation of arrears amounting to 1.5 billion euros in order to generate more than 300 million euros in liquidity and better [...]

Black Sea Bank announces 160-mln-euro loan to PPC

Black Sea Trade and Development Bank on Monday announced the signing of an agreement with Public Power Corporation (PPC) to offer a five-year loan worth 160 million euros. In an announcement, the bank said the loan was the biggest offered by [...]

Central Council for Modern Monuments approves ‘Master Plan’ for Piraeus port development

The Central Council for Modern Monuments on Thursday unanimously approved the Piraeus Port Authority (PPA) ‘Master Plan’ for the development of Piraeus port, relating to the ‘Pagoda’ (the roof of the former Agios Nikolaos [...]

National Insurance says premium production is up 2.3 pct in 2018

National Insurance on Tuesday reported a 2.3 pct increase in premium production in 2018 compared with the previous year. In an announcement, National Insurance said that premium production in the life insurance sector grew 1.3 pct to 431.9 million [...]

2.2 bln euro projects on the fast track approval list

Ten large projects representing a total investment of 2.2 billion euros, which will create 10,000 jobs, are on the fast track approval list, as reported at the journalists meeting with Enterprise Greece executives. Some of these projects will [...]

Aegean Airlines says profits up 13 pct in 2018

Aegean Airlines on Thursday reported a 5.0 pct increase in its consolidated turnover to 1.187 billion euros in 2018 and said after tax earnings totaled 67.9 million euros, up 13 pct from 2017. In an announcement, the Greek airline company said: [...]

National Bank to reduce NPEs by 11.5 bln euros by 2021, CEO says

National Bank aims to reduce its non-performing exposure by 11.5 billion euros by 2021, of which 4.5 billion this year, Paul Mylonas, the bank’s CEO said on Thursday. “Efforts to turn around operating profitability bore fruit in the fourth [...]

ALPHA BANK: Full Year 2018 Profit After Tax at Euro 53 million

Continued progress on Asset Quality with NPEs down by Euro 3.1 billion and NPLs down Euro 2.1 billion in Greece y-o-y. In Q4 2018, NPE formation negative by Euro 0.5 billion. – During 2018, the Bank successfully completed three transactions [...]

TEMES acquires controlling share of Ionian Hotel Enterprises, owner of Athens Hilton

Destination developer and real estate firm TEMES on Friday announced the signature of an agreement that gives it a 51-pct controlling share in Ionian Hotel Enterprises SA, the company that owns the landmark building managed by the Hilton Hotel [...]

Fraport Greece: 12.3 pct rise in passenger numbers for Greek peripheral airports

The number of passengers travelling to peripheral airports in Greece on Janurary was up by a 12,3 pct compared to January 2018, according to a Fraport Greece announcement. International passengers recorded a rise of 23.6 pct compared to the [...]