(Bloomberg) — Coca-Cola Hellenic Bottling Co., the world’s second-largest bottler of Coke beverages, has surpassed National Bank of Greece SA to become the nation’s largest company by market value after the Greek debt crisis caused banking stocks to plunge.Coca-Cola Hellenic, which is 24 percent owned by the Coca- Cola Co., has a value of more than 7 billion euros ($9.3 billion), the only such company on the Athens exchange, after National Bank plunged 44 percent this year on concern over the country’s debt.
Posts Tagged ‘Bank Of Greece’
Coca-Cola HBC Is Biggest Greek Company as Banks Fall
April 29th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: 1 Billion, Athens, Bank Of Greece, Beverages, Bloomberg, Bottler, Bourse, Coca Cola, Coca Cola Co, Coca Cola Hellenic Bottling, Coca Cola Hellenic Bottling Co, Coke, Debt Crisis, Greek Banks, Greek Company, Hbc, Hellenic, National Bank Of Greece, Securities Regulator, Stocks 
Comments OffGreek banks seek government support as investors flee
April 8th, 2010 Before You Invest The four largest banks in Greece have questioned for government support as investors continue to go their funds out of the financially-troubled country.George Papaconstantinou, Greece’s finance minister, has announced that the banks “have questioned for access to the remaining funds of the support plot”, reports the Financial Times.The €28 billion ($37 billion) support plot was originally drawn up in 2008 at the height of the credit crunch.National Bank of Greece, EFG Eurobank, Piraeus Bank and Alpha Bank have now requested around €17 billion in loan guarantees and special bonds.
Posted in Finance Fraud Tags: Alpha Bank, Bank Of Greece, Banking System, Banks In Greece, Bonds, Citizens, Credit Crunch, Efg Eurobank, Finance Minister, Financial Times, Fitch Ratings, Government Support, Greek Banks, International Concern, Loan Guarantees, Months Of The Year, National Bank Of Greece, Piraeus Bank, S Central, Sum Of Money Comments OffGoldman’s Greek Swap Spurs ECB to Seek New EU Deficit Rules
March 24th, 2010 Before You Invest (Bloomberg) — The European Central Bank may try to get European Union rules amended so that countries can’t use swaps to cut excessive budget deficits, capitalizing on a debate sparked by Goldman Sachs Group Inc.’s swap arrangements with Greece.European politicians have criticized Goldman Sachs after the Greek fiscal crisis turned attention to a currency swap the firm arranged in 2002 that helped Greece hide the extent of its budget deficit and overall debt level.
Posted in Finance Fraud Tags: Bank Of Greece, Budget Deficits, Central Banks, Cross Currency Swap, Debt Level, Ecb President, European Commission Spokesman, European Politicians, Excessive Budget, Fiscal Controls, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Government Deficit, Greek Swap, Historical Exchange Rate, Jean Claude Trichet, Member Executive Board, National Bank Of Greece, Sachs Group Inc Comments OffHedge funds profiting from Greek debt crisis
March 1st, 2010 Before You Invest Hedge funds are making money on the Greek debt crisis by betting on European banks cutting their exposure to the country’s economy, industry insiders have said.It is estimated by Barclays that about 95 per cent of Greece’s debts are held by banks operating in the eurozone.Speaking to the Financial Times, one unnamed strategist at a UK-based hedge fund said that several firms had successfully engaged in the practice as banks look to limit their risk.”There are a group of funds, perhaps three or four, that have played this as a huge sovereign basis trade and made a lot,” it was said.Last weekend, it was reported that private banks in Germany may start buying Greek debt, backed by guarantees from the country’s government on such investments.Last week, Fitch Ratings downgraded the credit rating of four top Greek banks, including National Bank of Greece and EFG Eurobank, in response to the economic problems afflicting the country.
Posted in Finance Fraud Tags: Bank Of Greece, Banks In Germany, Barclays, Basis Trade, Credit Rating, Debt Crisis, Economic Problems, Economy Industry, Eurobank, European Banks, Eurozone, Financial Times, Fitch Ratings, Greek Banks, Hedge Fund, Hedge Funds, Industry Insiders, National Bank Of Greece, Private Banks, Strategist Comments OffTop Greek banks have credit ratings reduced
February 25th, 2010 Before You Invest The four largest bank lenders in Greece have had their credit ratings cut by a leading industry body.Fitch Ratings has downgraded financial institutions including the National Bank of Greece and Alpha Bank.EFG Eurobank and Piraeus Bank were also affected.Fitch Ratings stated that its choice was based on the country’s ongoing economic crisis, which the organisation said will hurt the banks’ asset quality.”The required fiscal tightening that needs to be made by the Greek government will have a significant effect on the real economy, affecting loan demand and putting additional pressure on asset quality,” it was stated.Greece suffered a budget shortfall of 12.7 per cent in 2009 and the government has said it wants to cut that figure to 8.7 per cent this year.Earlier this month, a summit meeting of European Union leaders in Brussels discussed the possibility of providing Greece with bailout funding, but no firm agreement has yet been implemented.
Posted in Finance Fraud Tags: Alpha Bank, Asset Quality, Bailout, Bank Lenders, Bank Of Greece, Brussels, Budget Shortfall, Economic Crisis, Economy, Efg Eurobank, European Union, European Union Leaders, Financial Institutions, Fitch Ratings, Greek Banks, Greek Government, Loan Demand, National Bank Of Greece, Piraeus Bank, Summit Meeting Comments OffFormer Goldman Sachs banker to be Greece’s debt chief
February 24th, 2010 Before You Invest A former Goldman Sachs and Morgan Stanley trader has been appointed as Greece’s new head of public debt. Petros Christodoulou is to take charge of Greece’s Public Debt Management Agency following the departure of Spyros Papanicolaou from the post. Mr Christodoulou previously worked as the National Bank of Greece’s head of treasury while also undertaking various positions with investment banks JPMorgan, Morgan Stanley and Goldman Sachs.
Posted in Finance Fraud Tags: Bank Of Greece, Budget Deficit, Debt Levels, Diebel, Goldman Sachs, Greek Government, Gross Domestic Product, Investment Banks, Management Agency, Morgan Stanley, Nation States, National Bank Of Greece, New Broom, Nomura International Plc, Papanicolaou, Public Debt Management, S Gross, Scrutiny, Strategist, Swaps Comments Off
