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  1. NBG records net profits of 73 mln in Q4, turns profitable for whole year
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyBanking

    million euros, largely reflecting higher insurance income and lower operating expenses. For the whole... more than offset lower deposit cost. During the conference call, the management said.... Fee income improved QoQ to 58 million mostly due to lower pillar II costs, while insurance income

    4%

  2. Piraeus Bank posts minor losses in Q4, almost breaking even for 2016
    Photo by MacroPolis

    EconomyBanking

    percent to 1.32 billion mostly reflecting lower net interest income (NII). Asset quality Non-performing... down 0.5 percent QoQ to 453.2 million in Q4 as the positive impact from the lower funding cost..., aggressive cost management and lower cost of risk, while foreign asset disposals are estimated to have

    4%

  3. Eurosystem funding falls by 2.2 bln in March, ELA drops after brief rise in Feb

    EconomyMacroeconomy

    programme was agreed. Around two thirds of that drop (44.4 billion) relates to lower dependence... on Greek government securities, along with the lower haircut applied on ELA collateral.... Following the lower reliance on ELA funding, the corresponding collateral pledged with the BoG fell

    4%

  4. IMF downgrades Greek GDP and unemployment forecasts
    Photo via Flickr https://flic.kr/p/7BWNey

    EconomyMacroeconomy

    of Greece (BoG) has a slightly lower estimate of 2.5 percent, while the OECD foresees a much slower growth... stands at 1 percent for 2022, lower than its previous forecast of 1.8 percent for 2021. The report also... points (pp) within 2018 is much lower than that (-1.9 pp) estimated for this year. Consumer prices

    4%

  5. Finance Ministry ups 2017 budget primary surplus estimates on higher revenue projections
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    of the net budget revenue by 1.29 billion euros, mitigated by lower Public Investment Budget (PIB... to 1.61 billion. The downward revision of PIB revenues is entirely attributed to lower EU funds... million. Primary expenditure was 1.19 billion lower than the target, while both PIB revenues

    4%

  6. Piraeus Bank records net losses of 6 mln in Q1, further reduction in NPE stock
    Photo by MacroPolis

    EconomyBanking

    ) contracted by 3 percent QoQ to 440 million, as the positive impact from lower funding cost.... The cost of risk stood at 2.2 percent in Q1 and management expects a lower figure between 150-200 bps... was reduced by 900 million to 11 billion. Lower EC funding reflects a shift towards interbank repos, which

    4%

  7. Banks meet overall NPE reduction target in Q1 2017, largely on write-offs
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    quarter-on-quarter (QoQ) to 103.9 billion, 1.3 billion lower than the target of 105.2 billion. However... in Q1, 1.8 billion lower than the target. In contrast, residential NPEs came in at 27.7 billion, 400... million, respectively, outpacing consumer NPLs which stood 100 million lower than target. Commenting

    4%

  8. Eurosystem funding falls by 3.58 bln in September
    Photo by MacroPolis

    EconomyMacroeconomy

    of this decrease driven by lower ELA funding. Greek banks’ Eurosystem funding has decreased... was agreed, with the majority of this fall (58.28 billion) originating from lower reliance on ELA... the reinstatement of the waiver on Greek government securities along with the lower haircut applied on ELA

    4%

  9. Eurosystem funding falls by 4.38 bln in October as ELA declines

    EconomyMacroeconomy

    , with around two-thirds of this decrease driven by lower ELA funding. Eurosystem funding to Greek banks... the third bailout programme was agreed. The majority of this fall (64.02 billion) comes from a lower... reflects the reinstatement of the waiver on Greek government securities along with the lower haircut

    4%

  10. Eurobank net profit at 61.2 mln in Q3, NPE formation negative for fourth straight quarter
    Image via www.eurobank.gr

    EconomyBanking

    at 369.3 million. This was mainly due to lower Eurosystem funding and Pillar II utilisation. On an annual... funds. The year-on-year rise was 17.8 percent, driven by lower government guarantee cost. Operating... loans edged down by 400 million to 48.3 billion in Q3 on the back of lower housing and consumer loan

    4%