Greek banks donate 160 million to three universities for infrastructure upgrades

30 articles·18 sources·updated about 3 hours ago·View in graph

business & finance greece united states of america european union

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The Union of Greek Banks has donated €160 million to three major Greek universities for infrastructure upgrades, marking the largest donation in recent decades. The donation will benefit the National and Kapodistrian University of Athens, Aristotle University of Thessaloniki, and the National Technical University of Athens.

The funds will be used for the radical renovation and upgrade of spaces and building infrastructure at these institutions. Specifically, €130 million will go to the National and Kapodistrian University of Athens, which is the highest donation in recent decades. The donation will support the renovation of buildings used daily by 100,000 students and staff, as well as the renovation of student halls at the Aristotle University of Thessaloniki and the emblematic Gin building at the National Technical University of Athens.

In other banking news, the European Union is planning measures to help EU banks build scale and compete with US rivals. This comes as JP Morgan, the largest US bank, has a greater market capitalization than the 10 largest EU banks combined. The EU aims to simplify and diversify the Basel III requirements to make it easier for smaller and regional banks to compete.

Signet Bank, a Latvian investment bank, has secured EUR 1.2 million in financing for the development of smart storage facilities in Riga. The project involves constructing a new building with a total area of 1,786 m2 adjacent to existing facilities. NORDSPACE, the company behind the project, provides smart business spaces for work, entrepreneurship, and hobbies.

Additionally, Catalonia Hotels & Resorts has secured a €383 million financing package from CaixaBank, Santander, Sabadell, and BBVA. The funds will be used to finance growth projects, restructure debt, and release mortgage guarantees on many of its assets. Part of the new resources will be allocated to the development of tourist complexes in Zanzibar and Jamaica, the group's two major international projects.

The European Central Bank (ECB) is not expected to hike interest rates at its next meeting, according to economists. This follows the latest eurozone inflation figures, which showed a slowdown to 2.8 percent in June from 3.2 percent in May.

In other news, Swedbank has agreed to pay a $50 million penalty to New York state's financial regulator to settle the last remaining US investigation related to the bank's anti-money laundering controls.

The digital euro has taken important steps forward, with the EU Parliament clearing the way for its implementation. Thirty-six banks have been selected for a field test, and thousands of users will soon be able to test it in cafeterias and canteens.

Finally, the Bank of Italy has reported that consumption in Italy slowed down in the second quarter of 2026 due to high uncertainty about the timing of the restoration of flows through the Strait of Hormuz, which is affecting global trade and growth.

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