Athens News Agency: News in English, 09-11-30

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Alpha Bank raises equity capital to 3.45 billion euros

[02] US envoy addresses American-Hellenic Chamber

[03] Hellenic Postbank reports sharply improved 9-month results

[01] Alpha Bank raises equity capital to 3.45 billion euros

The bank said its share capital increase plan was 1.52 times oversubscribed with Alpha Bank raising 986,343,968 euros from the market.

[02] US envoy addresses American-Hellenic Chamber

Speckhard's address cited three primary axes, namely, international cooperation, labor flexibility and efforts to attract investment and capital.

In terms of the latter and the new Greek government, he said:

"The new (Greek) government has signalled its readiness to make structural changes to enhance Greeceās competitiveness and to improve the business climate. An improved business climate spawns investment, including investment from abroad. The benefits of foreign direct investment go directly to what this government is trying to achieve - job creation, increased wages and increased exports..." he said.

Pointing to the necessity of labor flexibility as a remedy for unemployment, he cautioned, however:

"... labor market flexibility does not mean expendability. Countries need to develop employment regulations to allow efficient contracting between employers and workers, and to protect workers from discriminatory or unfair treatment by employers. Countries should respect the International Labor Organization core labor standards."

He noted that Greece can attract new investments based on renewable sources of energy, mirroring the new government's appeal for "green development".

"A rapid push toward meeting Greeceās EU commitments in renewable energy by 2020 will draw investors with proven expertise in renewable technologies - and leading technologies in this field. And the benefits are varied. Given its boundless potential, this is an area where Greece can lead in the EU while boosting its own economy and enhancing its energy security. Development of renewable, 'green' energies is a passion shared by (US) President Obama and establishes a commonality of purpose that will serve our two countries well," he concluded.

[03] Hellenic Postbank reports sharply improved 9-month results

The bank said its investment portfolio grew 28.23 pct to 5.19 billion euros in the nine-month period, saving deposits rose 11.87 pct to 12.54 billion euros, new loans grew 9.06 pct to 7.77 billion euors, while in non-performing loans rate was only 1.07 pct.

Aggelos Philippidis, the bank's chairman, commenting on the results said a successful completion of a share capital increase plan, worth 526.26 million euros, amid adverse economic conditions, brought Hellenic Postbank to the top among Greek banks and third among European banks in capital adequacy rates, highlighting the investors' confidence in the bank.

He said the management's aim was to transform Hellenic Postbank into an alternative bank operating to the benefit of its shareholders and its work force.

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