|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||3.4300 - 3.4322|
|52 Week Range||0.6700 - 3.6900|
|Beta (3Y Monthly)||0.40|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
A growing number of hedge funds are moving into shipping debt, an asset class few have invested in before, looking to buy up loans and bonds as banks cut their exposure to the troubled sector. The European Central Bank's banking supervisor has flagged troubled non-performing loans in 2019 as "a concern for a significant number of euro area institutions". Hedge funds clocked up hundreds of millions of dollars in losses from investments in mainly equities when the shipping industry first turned sour a decade ago – and have made limited forays for the most part since.
The high level of bad loans in Greece is still the biggest issue that the embattled economy needs to focus on, the head of Piraeus Bank told CNBC Monday.
ATHENS (Reuters) - Greece's Eurobank (EFGr.AT) said on Wednesday it had agreed to acquire Piraeus Bank Bulgaria for 75 million euros. The completion of the transaction was subject to regulatory and supervisory ...
Piraeus Bank (BOPr.AT) said plans to issue debt to bolster its capital were on track on Wednesday as Greece's largest lender by assets faced a near 30 percent share price fall. "The plan's aim is to strengthen the bank's balance sheet and enhance its capital base. The bank has made significant progress on all fronts with regards to the implementation of the plan," Piraeus Chief Executive Christos Megalou told Reuters.
Greece’s second-biggest lender has been told by the European Central Bank to increase its capital this year, a task complicated by the country’s limited access to bond markets. Piraeus Bank must raise about 500 million euros ($584 million) by selling tier 2 bonds under a plan agreed with the ECB’s Single Supervisory Mechanism, two people with knowledge of the matter said. Spokesmen for Piraeus, the SSM and the Bank of Greece declined to comment.