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Banking
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EconomyMacroeconomy
ELA funding down by 8.6 bln in Dec for sharpest drop since July Greek banks’ Eurosystem funding continued heading south for the sixth straight month dropping by 5.89 billion in December after a 5.98 billion fall in November, Bank of Greece's (BoG) 2015 balance sheet showed on Monday.
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EconomyMacroeconomy
Time deposit rate eases by another 5 bps in Nov, average loan rate drops 16 bps Greek households’ new time deposit rate eased by 5 another basis points (bps) to just above the 1-percent mark in November, Bank of Greece (BoG) figures showed on Friday.
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EconomyMacroeconomy
Credit contraction further accelerates to 2.2 pct in November Greek bank credit contraction further accelerated to 2.2 percent in November from an upward revised 2 percent in October, Bank of Greece (BoG) figures displayed on Wednesday.
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EconomyMacroeconomy Deposit flow remains negative for the second straight month with outflows of 390 mln in November The Greek banking system recorded deposit outflows for the second successive month of 390 million in November from 681 million in October, Bank of Greece (BoG) figures displayed on Wednesday.
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EconomyBanking
Eurobank sells insurance arm to Fairfax for 316 mln Eurobank announced on Tuesday that it has reached an agreement with its shareholder Fairfax for the sale of an 80 percent stake in the bank’s insurance subsidiary Eurolife.
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EconomyBanking
NBG boosts capital base by selling total stake in Finansbank National Bank of Greece (NBG) announced early on Tuesday that it has entered into a definitive agreement with Qatar National Bank (QNB) for the sale of a 99.8 percent stake in its Turkish arm Finansbank for a total consideration of 2.75 billion euros.
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Economy
Last round of Greek banks' recapitalisation drastically shifts shareholder structures The introduction of Greek banks’ new shares for trading officially completed their last recapitalisation process. These shares largely resulted from the international bookbuilding process and the voluntary bond swap offers (LME).
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EconomyMacroeconomy
Sharp drop of 5.3 bln for Greek ELA funding after completion of capital increases Greek banks’ Eurosystem funding fell by 5.98 billion euros in November following a drop by 2.01 billion in October, Bank of Greece's (BoG) monthly financial statement displayed on Monday.
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EconomyProgramme
Multi-bill tabled in Parliament, paves way for sale of NPLs The government tabled in Parliament on Saturday evening the multi-bill containing the prior actions demanded by the institutions for the disbursement of the next sub-tranche of 1 billion euros.
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Economy
Management of NPLs to test gov't in negotiations with lenders Following an agreement on foreclosures that was part of the first set of milestones, Greece now has to reach an accord with the institutions on a non-performing loan (NPL) strategy.