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Loss-making Q4 and 2015 for Alpha, targets positive bottom-line in 2016
EconomyBankingpercent. For the whole year, NII slightly improved by 0.6 percent to 1.93 billion euros as the lower... at the high-end of the market. The bank said that the lower NPL formation in all lending segments primarily... growth on the back of lower funding cost and further cost containment. In addition, the management
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NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
EconomyBanking. Net interest income (NII) edged up 1 percent QoQ to 474 million euros, largely due to lower..., Greek lending spread fell 7 basis points (bps) QoQ resulting in lower loan NII. For the whole year... of waiver on Greek government securities and lower deposit cost. Fee income strongly rebounded by 18 percent
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Jan-Feb budget primary surplus soars to 3.04 bln, aided by underspend and PIB revenues
EconomyMacroeconomyexpenditure was 913 million lower than target), the higher PIB surplus (by 657 million) and the higher... taxes) up to 218 million (property taxes). The latter mostly relates to lower revenues from the single..., 961 million lower than target. PIB PIB revenues continued rising. They more than tripled to 956
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Greek bailout talks yet to conclude as start of IMF meetings approaches
EconomyProgramme). Those rates result in a cumulative pension replacement of 40.7 percent, which is lower than... proposal of 9,100 euros. The IMF is pressing for a much lower figure of 8,182. The government proposal... in the initial government plan). The government has also reportedly proposed lower thresholds for the other type
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Newsletter 70 - 15/04/2016
document estimates net savings of 2.5 percent of GDP are required to achieve a much lower primary surplus... red line, with the institutions demanding a lower level of €8,182. Minister Giorgos Katrougalos..., which have demanded a lower threshold of 8,182 euros as a means to widen the salary-earners’ tax
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Newsletter 71 - 22/04/2016
-earners and pensioners with incomes up to 20,000 euros, lower taxes for those with incomes between... bill incorporates lower pension replacement rates by up to 3.9 percentage points compared..., an improving performance in the secondary income balance (by 158 million) and a lower goods deficit (by 138
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Underspend and improving revenues lead to budget primary surplus of 2.67 bln in Q1
EconomyMacroeconomyto an underspend. Primary expenditure was 1.34 billion lower than the target. Also, revenues over-performed (by 363 million). These two factors more than made up for the lower-than-expected PIB balance... the target. On top of primary expenditure, the underspend also reflects lower military procurement
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Negotiations between Greece and lenders: state of play ahead of Eurogroup meeting
EconomyProgrammewith the government proposing an amount of 9,090 euros, while the IMF is insisting on a much lower figure of 8,182 euros. It is not clear at the moment whether a lower tax-free threshold would entail a change... to lower the 2018 primary surplus target from 3.5 to 1.5 percent of GDP as the initial target “would
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Newsletter 72 - 06/05/2016
security contribution increases, lower replacement rates and cuts to supplementary pensions... the IMF – are sticking to a lower figure of 8,182 euros with the aim to widen the tax base, since Greece... proposal reportedly calling for a lower amount linked to the taxpayer’s family status in an effort
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Piraeus reports net loss of 37 mln in Q1, records negative NPL formation for first time since 2008
EconomyBankingto 478 million largely on reduced funding cost attributed to lower reliance on the Emergency Liquidity Assistance (ELA) funding and government guarantees as well as lower deposit cost. In contrast, fee.... The management reiterated its previously stated target for return in profitability in 2016 on the back of lower
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