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Cash deficit to November rises to 9.9 bln as Greece pays off arrears
EconomyMacroeconomyThe central government net balance to November on a cash basis showed the deficit widening by 30 percent to 9.96 billion euros from 7.67 billion last year, according to the Bank of Greece (BoG... it refers to past years’ fiscal performance. Incorporating the aforementioned adjustments, the BoG net
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Greece records primary cash deficit in 2013
EconomyMacroeconomyGreece’s 2013 central government net balance on a cash basis showed the deficit widening by 19.6 percent to 12.79 billion euros from 10.7 billion last year, according to the Bank of Greece (BoG.... Incorporating these adjustments, we conclude that the BoG net balance stands at about 750 million
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Greek banks' reliance on Eurosystem funding rose in December for first time since April
EconomyMacroeconomybasis points over the respective ECB funding cost and had burdened Greek banks’ net interest income... their recapitalisation process last June, which somewhat distort the previous ratios, their net Eurosystem
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Eurosystem funding for Greek banks eases by 2.18 bln in January
EconomyMacroeconomythe respective ECB funding cost and had burdened Greek banks’ net interest income (NII) in the second half... bonds that banks had received during their recapitalisation process last June, their net Eurosystem
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Piraeus snaps up share in MIG to complete series of corporate moves
EconomyBankingof 1.19 billion euros, EBITDA turned positive at 8.6 million, while net loss narrowed to 234.5... at 209 million. Net Asset Value (NAV) stood at 967 million corresponding to 1.26 euros per share
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Greek central government debt inches down to 320.42 bln in Q1
Economya net increase in repo loans by 2.07 billion. The latter appears in the debt structure for the first... billion by the end of Q1 2014, the IMF net financing has been reduced accordingly to 25.4 billion
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Alpha Bank posts loss of 94.1 mln in Q1
EconomyBankingAlpha Bank, the third largest Greek bank by total assets, posted a Q1 net loss of 94.1 million euros from profit of 230.4 million last year. The latter excludes the negative goodwill of 3.28 billion... on year (YoY). On the revenue front, net interest income (NII) soared 43.8 percent YoY to 471
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Piraeus Bank reports loss of 247 mln for Q1
EconomyBankingPiraeus Bank concluded the first quarter (Q1) reporting season for Greek banks by posting a net loss of 247 million from 700 million in Q4. Lower loss on a quarterly basis mainly reflects a 39... million in Q4. In contrast, net interest income (NII) rebounded 0.9 percent QoQ to 479 million, largely
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Deposits rise for third straight month in May, reaching 162.1 bln
EconomyMacroeconomyGreek private sector deposits rose 0.4 percent month on month (MoM) in May, with balances reaching 162.1 billion euros, according to the Bank of Greece (BoG). The net flow remained positive... for the third successive month, the year to date net flow is still negative with outflows amounting
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Greek primary budget surplus reaches 712 mln in first half of 2014
Economytarget. Overall, net revenues eased 0.9 percent to 20.65 billion, marginally above target, as better... there was a net increase of arrears at 489 million so far in 2014. As expected, interest payments increased month
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