On May 28, Greek lenders National Bank of Greece (ADR) (NYSE:NBG) SA and Eurobank Ergasias SA reported Wednesday that their flow of nonperforming loans slowed at the start of the year as Greece’s economy began to show signs of a turnaround. NBG, the country’s largest lender by assets, said loan provisions for the first three months of the year stood at EUR362 million ($424 million), down 7% on quarter and 15% on year. This was due to the continuing reduction of bad loans, which decreased further by 32% to EUR312 million. National Bank of Greece (ADR) (NYSE:NBG) net profit margin is 11.10% and weekly performance is 16.99%. On last trading day company shares ended up $3.65. Analysts mean target price for the company is $4.65. National Bank of Greece (ADR) (NYSE:NBG) distance from 50-day simple moving average (SMA50) is -16.28%.
O May 28, Germany’s Hanwha SolarOne Co Ltd (NASDAQ:HSOL) has completed the shipment of 60 MW of its HSL 60 PV modules to the U.K., where solar EPC company vogt solar – a wholly owned subsidiary of ib vogt – is constructing four solar parks across the south of England. Hanwha Solarone Co Ltd (NASDAQ:HSOL) shares fell -2.36% in last trading session and ended the day on $2.48. Gross Margin is -2.60% and its return on assets is -16.30%. Hanwha Solarone Co Ltd (NASDAQ:HSOL) quarterly performance is -18.69%.
Metlife Inc (NYSE:MET) and Transamerica Corp have reached separate agreements with the State of Minnesota in which the companies will pay rightful proceeds from life insurance to Minnesota beneficiaries. As part of the agreement, the Minnesota Department of Commerce urged Metlife and its fellow insurance provider Transamerica to improve their procedures so that they can channel proceeds to beneficiaries that have not been compensated. Metlife Inc (NYSE:MET) shares moved up 0.22% in last trading session and were closed at $50.93, while trading in range of $50.60 – $51.15. Metlife Inc (NYSE:MET) year to date (YTD) performance is -4.32%.
On May 27, Chinese PV manufacturer LDK Solar Co., Ltd (ADR) (OTCMKTS:LDKSY) has secured a RMB2 billion (US$320 million) loan from a consortium of investors led by the China Development Bank. LDK Solar Co., Ltd (ADR) (OTCMKTS:LDKSY) ended the last trading day at $0.500 .
On May 30, Greek lender Alpha Bank A.E. (ADR) (OTCMKTS:ALBKY) reported a profit of EUR 1.4 million in Romania in the first quarter, compared to loss reported in the same period of 2013. Provisions decreased by some 45 percent to EUR 14.4 million, while operating expenses dropped 3.6 percent to EUR 21 million. The operating income increased by 3.4 percent, to EUR 36.8 million, according to the lender’s financial report. The non-performing loans NPL ratio stood at 14.4 percent in the first quarter of 2014, while the lender’s loan market share was of 5.7 percent. The deposits amounted to EUR 1.4 billion, up 6.6 percent year-on-year. Alpha Bank A.E. (ADR) (OTCMKTS:ALBKY) On last trading day company shares ended up $0.258.
Leave a Reply