NBG likely to sell its insurance unit
National Bank of Greece expects to sell its subsidiary Ethniki Insurance this year and plans other sales as part of its restructuring, its chief executive said yesterday. Last month Greece’s second largest lender hired Goldman Sachs and Morgan Stanley as advisers on the sale of the insurance unit, banking
Coastal shippers’ fuel costs. Greek coastal shipping companies are worried that the rise in global oil rates poses a threat to their operating profits. As fuel accounts for more than a third of coastal shippers’ operating expenditure, for every 10 percent increase in oil rates, there is a 3-4 percent rise in their expenses.