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S&P raises core Greek banks’ ratings, with a stable outlook
Economy. In addition, their funding positions will remain highly unbalance resulting in continued reliance on Eurosystem funding to cover their liquidity needs, S&P stresses. A rating upgrade would require... that would result in lower reliance on ECB funding, return to profitability and asset quality
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One-off loss affects NBG’s P&L, NPE stock drops by 900 mln in Q2
EconomyBankingpercent QoQ to 482 million largely driven by lower funding cost due to reduced Emergency Liquidity Assistance (ELA) funding as well as lower deposit cost. Fee and insurance income rose by 4 and 30.... Eurosystem funding markedly fell by almost 8 billion QoQ to 14.9 billion at the end of Q2
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Deposits grow by 1.3 bln in August, highest inflow in 2016
EconomyMacroeconomyon Eurosystem funding fell further by 4.39 billion to 78.46 billion at the end of August. The monthly movement reflects a decline in the Emergency Liquidity Assistance (ELA) and ECB funding by 2.55 and 1.83 billion respectively. Overall, Central Bank funding has dropped by 17.26 billion over the last three
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Deposits edge down to 123.5 bln in September on outflows of 379 mln
EconomyMacroeconomyto the end-2015 figure. BoG earlier data also showed that Greek banks’ Eurosystem funding dropped by 3.15... funding by 1.82 billion to 27.75 billion coupled with a decline in Emergency Liquidity Assistance (ELA) funding by 1.33 billion to 46.56 billion. Over the past four months, after the completion
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Piraeus Bank posts net profits of 31 mln in Q3, records improved asset quality trends
EconomyBankingmillion. The NII increase mostly reflects lower funding cost due to reduced reliance on Emergency Liquidity Assistance (ELA) funding and repo cost at negative rate, which more than offset the negative... single-digit NII growth going forward, on the back of lower deposit cost, positive impact on funding
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Moody’s changes outlook for Greek banks from negative to stable
EconomyBankingon the back of improving profitability and funding, which are expected to normalise from a very weak..., largely due to significantly lower impairment losses, reduced funding costs and contained operating... their reliance on the Emergency Liquidity Assistance (ELA) funding, Greek banks are expected to continue
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Deposits rise to 124.6 bln in Oct on inflows of 1 bln
EconomyMacroeconomyweeks ago that Greek banks’ Eurosystem funding fell by another 3.53 billion euros to 71.78 billion at the end of October. The monthly movement reflects a reduction in ECB funding by 2.24 billion to 25.51 billion and a decline in the Emergency Liquidity Assistance (ELA) funding by 1.29 billion
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Positive deposit flow of 2.8 bln in Dec leads 2016 inflows to 4.2 bln
EconomyMacroeconomybanks’ Eurosystem funding declined by another 1.87 billion in December and landed at 66.62 billion, its... Assistance (ELA) funding by 1.37 billion, while ECB funding posted a smaller drop by 500 million. Overall, Eurosystem funding has declined by 60 billion euros since the July 2015 attributed
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Review talks focus on out-of-court workout, jobs scheme and energy market
EconomyProgrammeof that programme relates to its funding, which was not discussed at Thursday’s meeting. Government sources noted after February 20 Eurogroup that the programme’s funding was estimated at around 3 billion euros... with the World Bank regarding the funding and technical expertise needed for this programme
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NBG records net profits of 73 mln in Q4, turns profitable for whole year
EconomyBankingby 80 percent from last year. Balance Sheet Eurosystem funding dropped by just 300 million euros QoQ... in December. Central bank funding fell to 10.4 billion in March, with the current level of ELA funding at 5.8 billion remaining the lowest among NBG’s Greek peers. In addition, interbank repos stood
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