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GREECE-ECONOMY-BANK-BANKING-ATEBANK
An employee of ATEbank shouts a slogan against Greek government in front of the Finance Ministry during a demonstration in Athens on August 1, 2012. The Bank of Greece recently announced the split of the ATEbank into two entities, with the healthy part being taken over by Bank of Piraeus. Greece's Piraeus Bank will absorb part of ailing state lender ATEBank which will be broken into performing and non-performing assets, the Bank of Greece said on July 27. Founded in 1929, the former Agricultural Bank has a network of nearly 500 branches but is held down by ailing subsidiaries such as the Hellenic Sugar Company and the Greek Cooperative Cigarette Manufacturing Company (SEKAP). It failed Europe-wide stress tests held in 2010 and 2011. The Bank of Greece said that ATEBank's license had been revoked and that a special legal provision would be put in place for non-performing loans backed by agricultural land as collateral. AFP PHOTO / Angelos Tzortzinis
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Detalii fotografie |
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Athens, GREECE |
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AFP / Mediafax Foto |
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| Fotograf: |
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Angelos Tzortzinis |
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| Data: |
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1 August 2012 |
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| Dimensiuni: |
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4896 x 3264 (1.5 MB) |
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