Alpha Bank reports 34pc increase in factoring

Alpha Bank, the Greek finance group and owner of the country’s largest factor – ABC Factors – has reported a 35 per cent rise in nine-month net profits of Ђ190m, up from Ђ141m in 2002. The bank also announced that its factoring division had a 34 per...

Euler extends Greek credit insurance business

Euler Hermes, the French credit insurance company, has announced that it has raised its stake in its Greek joint-venture, Phoenix Credit Insurance, from 34 to 50 per cent. The insurer set up the subsidiary eight years ago in partnership with the...

Help promised to the bank-stricken SMEs

The Central Union of Chambers (KEE) has said that abusive bank practices have a serious socio-economic impact, mainly through their impact on small- and medium-sized enterprises (SMEs). Members of a special committee reporting on abusive bank...

Laiki Factoring says turnover up in Q1

Laiki Factoring, a subsidiary of Laiki Bank (Hellas) SA, has said its turnover in the first four months of 2004 totalled Ђ62.65 million, up Ђ24.14 million or 62.6 % compared to the same period last year. Laiki Bank operates a network of six...

Industry upbeat about growth

Greek industry has prospects for dynamic growth in the post-2004 environment, mainly due to extensive restructuring, which has enabled it to overcome the crisis of recent years, the Federation of Greek Industries (SEV) said in a survey covering the...

EIB’s loans exceed 1 billion euros in 2003

The European Investment Bank (EIB), the European Union’s long-term financing arm, provided a total of Ђ1.2 billion for projects in Greece in 2003 compared to Ђ1.07 billion a year earlier, according to the deputy president of the EIB. Lending covered...

EIB plans key regional role for Greece

Greece will play a key role in the European Investment Bank’s (EIB) activity in the Balkans and the Mediterranean, according to the bank’s vice president, Gerlando Genuardi. EIB granted a total of Ђ42.3 billion in loans in 2003 (compared to Ђ39.6...

US$3 million loan for Moldova’s SMEs

Thessaloniki-based Black Sea Trade & Development Bank (BSTDB), an international organisation, has granted a three year US$3 million loan to Moldova’s Agroidbank. This brings the total granted for the promotion of credit facilities to the Moldova...

Loan guarantee fund for small firms takes off

The Loan Guarantee Fund for small- and micro-enterprises (SMEs) employing up to 30 people, designed to help them overcome borrowing difficulties by underwriting 40-70 per cent of the credit risk involved, is being launched on 2 February, according...

Government to support small enterprises

The Greek government has earmarked Ђ145.6 million (US$186.2m) to support Greece's small- and medium-sized enterprises (SMEs) as a second phase of a programme to help SMEs, deputy Economy and Finance Minister Christos Pahtas announced yesterday. The...