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Budget execution makes positive start to 2018 with 1.88 bln primary surplus
EconomyMacroeconomyThe budget primary balance recorded a surplus of 1.88 billion euros in the first month of 2018... higher than the target. However this was countered by primary expenditure beating its target by 179..., below target by 92 million euros. As a result, the PIB balance recorded a surplus of 521 million
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Budget primary surplus confirmed at 1.85 bln in January
EconomyMacroeconomyThe budget primary balance was confirmed at a surplus of 1.85 billion euros in the first month... million higher than the target. However this was countered by the outperformance in primary... euros. As a result, the PIB balance recorded a surplus of 521 million in January, beating the target
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Moody's raises Greece two notches to 'B1' but highlights challenges for further upgrades
Economyfiscal consolidation over the past few years, with the primary balance now firmly in a large surplus and the overall balance also in surplus for the past three years, mostly due to structural measures... to clean up the banks balance sheets from non-performing assets allowing them to extend lending
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Piraeus sets ambitious NPL targets with Intrum deal as banks prepare securitisations
EconomyBanking-performing credit will stay on the Bank’s balance sheet. The managing entity, Intrum Hellas, has already... stock on its balance sheets with the total currently standing at 26.1 billion. NPL stock stood.... Hercules aims to take up to 30 billion euros in bad loans of the balance sheets of Greece’s systemic
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BoG highlights how Covid-19 compounds legacy issues and structural challenges
Economyof their balance sheets, which in turn would delay the recovery of investment is one of them. Banks... for the IFRS 9 phase-in at 12.1 pct and the Capital Adequacy Ratio at 13.8 pct. However, more than half... restore their balance sheets. One such solution that BoG is working on is an Asset Management Company
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Piraeus Bank raises 1.38 bln in share capital increase
EconomyBanking”. The capital increase is a central plank of Piraeus Bank’s balance sheet clean-up plan, which includes a raft... platform and the synthetic securitisation of select on-balance sheet performing loan portfolios. All... that will hold more than 20 percent of the share capital. Meanwhile, according to Kathimerini, Abu
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Deposits rose by 1.66 bln in March to highest since 2012
EconomyMacroeconomyon Thursday. The outstanding balance of private sector deposits increased to 164.8 billion euros, reflecting... -- by 5 million euros -- than the level of September 2014, meaning that the sector has finally... deposit movement took the aggregate balance for the year so far to an increase of 1.21 billion euros
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Banks moving at pace on road to recovery
EconomyBankingdebt crisis that damaged their balance sheets. In the latest official data on bad loans on the banks’ balance sheets released by Bank of Greece last week, the stock of NPEs on the banks’ books dropped... investor interest from more than 60 accounts. The yield settled at 2.625 pct for a 6.5-year maturity
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Deposits rise by 1.48 bln in Aug as year to date increase exceeds 10 bln
EconomyMacroeconomythe aggregate balance for the year so far to an increase by more than 10 billion euros. Total deposits, which...) figures released on Monday. The outstanding balance of private sector deposits increased to 173.24.... This is the highest private sector deposits balance since December 2011. A breakdown of the figures
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Unemployment rate broadly stable at 13.3 pct in Oct
EconomyMacroeconomyMinistry’s Ergani database showed that Greece’s employment balance in October turned negative with 70,048 more departures than hirings, from a positive balance of 19,727 in September. The overall balance
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