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Search resuls for: "George Georgiopoulos"


6 mentions found


☆ Belgium charges four people in European Parliament corruption probe
  + stars: | 2022-12-11 | by ( Philip Blenkinsop | ) www.reuters.com   time to read: +3 min
Prosecutors searched 16 houses and seized 600,000 euros ($631,800) in Brussels on Friday as part of an investigation into money laundering and corruption. The European Parliament said at the weekend it had suspended the powers and duties of one of its vice presidents, Greek socialist Eva Kaili, in light of the Belgian investigation. Belgian Socialist party member Marc Tarabella confirmed it was his home and that a computer and mobile phone had been taken. "If it were confirmed that someone took money to try to influence the opinion of the European Parliament, it will really be one of the most dramatic stories of corruption in recent years," he added. The European Parliament is due to vote this week on a proposal to extend visa-free travel to the EU for Kuwait, Qatar, Oman and Ecuador.
☆ Piraeus Bank swings to 9-month profit, ups full-year guidance
  + stars: | 2022-11-11 | by ( George Georgiopoulos | ) www.reuters.com   time to read: +2 min
The bank reported net earnings of 729 million euros ($746.86 million) after a loss of 3.085 billion euros in the nine-month period in 2021. Net earnings in the third quarter grew to 116 million euros from 92 million in the second quarter. Piraeus Bank generated 0.28 euros of earnings per share in the nine-month period and expects to outperform its previous 0.35 euro full-year 2022 guidance, he said. Its performing-loans portfolio expanded by 800 million euros in the third quarter and by 2.3 billion in the nine-month period, topping a revised annual target of 2.0 billion euros. Likewise, net fee income rose 12% year-on-year in the nine-month period thanks to new loan originations and bancassurance.
☆ JPMorgan to expand in Greece with new office, payments team
  + stars: | 2022-11-11 | by ( ) www.reuters.com   time to read: +2 min
ATHENS, Nov 11 (Reuters) - U.S. bank JPMorgan (JPM.N) said on Friday it will open a new office in Athens to support the growth of its business in the country. The office will house a new Payments Innovation Lab for which the firm will hire around a 50-strong payments research and development team locally - including product and engineering specialists. The Payments Innovation Lab will provide research and development to the bank's global payments business, including working with Onyx, JP Morgan's business unit that leverages cutting-edge technologies like blockchain. "We want to stay at the apex of payments innovation, and our new location in Athens will be a key nerve centre for our cutting edge payments innovation work," said Takis Georgakopoulos, Global Head of JPMorgan Payments. Recruitment for the Payments Innovation Lab will begin immediately, including for a head of the division.
☆ Greece to ban sale of spyware amid wiretapping scandal
  + stars: | 2022-11-07 | by ( ) www.reuters.com   time to read: +2 min
Government spokesman Giannis Oikonomou said the report that the government was behind the spyware surveillance was "unfounded". He said the Greek state had not used or bought any such spyware and added that judicial authorities would investigate the latest report. Greece, he told reporters, will soon submit a bill to parliament banning the sale of spyware. The Documento report was the latest development in a wiretapping scandal that has sparked political uproar in Greece, as the European Union takes a harder look at the use and sale of spyware. A special European parliamentary committee (PEGA) that is investigating the use of Pegasus and similar surveillance spyware concluded a visit to Greece and Cyprus last week.
☆ Greek banks overlooked but on bumpy road to re-rating -Eurobank Equities
  + stars: | 2022-10-27 | by ( ) www.reuters.com   time to read: +1 min
ATHENS, Oct 27 (Reuters) - Rising interest rates will provide a significant tailwind to Greek bank earnings this year and the next, Eurobank Equities said on Thursday, rating Alpha Bank (ACBr.AT), National Bank (NBGr.AT) and Piraeus (BOPr.AT) a "buy". In a research report, it said Greek bank shares were "out of sync with fundamentals", up just 3% so far this year and trading at a steep 25% discount to peers in Europe's periphery. Greek banks will benefit from a new credit cycle following a decade of de-leveraging while rate hikes will boost their net interest income, Eurobank Equities said. Greece's economy is also proving resilient thanks to tourism while banks' asset quality has improved in the last three years. "Besides their higher sensitivity to rate hikes versus EU peers, Greek banks have additional levers to pull, including continuous cost–cutting and accelerated fee generation," the report said.
☆ Young Greeks priced out as inflation, rents soar
  + stars: | 2022-10-26 | by ( George Georgiopoulos Lefteris Papadimas | George Georgiopoulos | Lefteris Papadimas | ) www.reuters.com   time to read: +6 min
Pappas, 27, an aspiring actress, says it is not the dividend young people hoped for after a ravaging debt crisis and a decade of austerity. He attributes the surge in rents mainly to "an overly depressed market during the (debt) crisis." Loan-to-values on mortgages have dropped to 70-75%, from more than 100% before the debt crisis. Banks' caution underpins financial stability but could also keep young working people off the property ladder for decades. Officials expect about 10,000 young couples aged 25-39 will benefit from the programme offering 1% interest on loans up to 150,000 euros.
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