You are here

Press: Marfin – CNP alliance

23/07/2008 07:49
The major issues in today’s financial press are the Annual Report of the Revisionary License Authority for 2007 and the strategic cooperation between the subsidiaries insurance companies of Marfin Popular Bank and the French CNP Assurances against €145 million.

The newspaper “Phileleftheros” refers to the Annual Report of the Revisionary License Authority for 2007. According to the report, one in three bidders (33%) who appealed to the Authority was vindicated compared to 28.7% in 2006.

The “Economy” inset of the newspaper refers to the Consumer Association’s survey on the price of goods and services.

The “Economy” inset of newspaper “Politis” refers to the strategic cooperation between the subsidiaries insurance companies of Marfin Popular Bank and the French insurance company CNP Assurances against €145 million. According to the report, the two companies signed long term cooperation in order to develop insurance activities via the banking networks of MPB in Greece and Cyprus.

Elsewhere “Politis” reports that the Commission for the Protection of Competition is short of staff despite the promises.

The “Economy” inset of newspaper “Simerini” refers to the signing of the cooperation between CNP Assurances and Marfin Popular Bank against €145 million. According to the report, CNP will acquire 50.1% of the insurance sector of MPB, 66% of the total operations of which are life insurance and 34% general sector insurance.

“Simerini” also refers to the Transport Minister’s statements that Hermes is fully responsible for the omissions on behalf of Swissport and LGS at the Larnaca and Paphos Airports.

The “Economy” inset of newspaper “Haravgi” refers to the survey of the Consumers’ Association on the price of goods and services in the past 11 months. According to the report, 35.1% of the businesses in July 2007 – May 2008 imposed increases in the price of their goods and services by 10%, while 13.5% pushed prices up by 5-10%.

“Haravgi” also reports that the survey showed indications that there is a cartel in the medical services.

The “Economy” inset of newspaper “Alithia” refers to the signing of the long-term cooperation between the French CNP Assurances and Marfin Popular Bank against €145 million. According to the report, the agreement will bring extraordinary pre-tax profits of €60 million.

Elsewhere the newspaper highlights that Deloitte and Touche Ltd signed a contract with the Ministry of Finance to undertake the program for the minimization of bureaucracy.