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NBG turns profitable in Q3, NPE stock drops further by 1 billion
EconomyBanking-off loss of 3.1 billion related to the recycling of Finansbank’s losses that were previously... million) and consumer credit (-10 million). Overall, the Greek NPL ratio edged up to 35.4 percent..., but still remains the highest among the Greek systemic banks. During the conference call, the management
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The key elements of the draft agreement between Greece and lenders
EconomyProgrammeDuring the second round of meetings between the institutions’ mission chiefs and the Greek... highlights of this document obtained by The Greek Report, relating to four areas: restoring fiscal... Greek banks’ NPL strategies and targets. Supporting the banks’ efforts to meet their NPL reduction
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IMF sees much scope for reform progress, particularly on tax in Article IV report
EconomyProgrammeand job creation at risk. Also, Greek debt must become sustainable requiring substantial debt from... have relied increasingly on one-off and ad-hoc adjustment mostly reflecting the inability..., the report notes that despite the three rounds of recapitalisation, Greek banks’ capital quality remains
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Lack of clarity across the board highlights review impasse
PoliticsGreek Politicsin return, or because the Greek government is expecting someone on the lenders’ side, possibly... preferring Athens to hold off in the hope that it will get better terms towards the summer... is not willing to meet the demand for upfront legislation of measures. “The Greek government has
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Lenders to put onus on Tsipras with offer to wrap up review
PoliticsGreek Politicshas proposed. Although the Greek government insisted until recently that it would not legislate any... Central Bank to deem Greek bonds eligible for QE, which should be enough for the prime minister... his prize. If, for instance, any meaningful discussion is put off until after the German elections
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Tormenting Greece with a distorted picture
Agoraof reaching an agreement with the country’s lenders, thereby ensuring more funding, staving off...? This is valid point for discussion but it should be noted that there is nothing new or rare about a Greek... for the Greek economy, keeping local businesses from expanding, scaring away foreign investors
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Greece and creditors dive into details of measures and counter-measures
EconomyProgrammeThe second day of negotiations between the Greek government and the institutions’ mission chiefs... and 2019, a Greek official noted. The government also outlined to the institutions the counter...-of-court workout that have to be resolved include the write-off of overdue VAT and withheld taxes from
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NBG records net profits of 73 mln in Q4, turns profitable for whole year
EconomyBankinga one-off gain of 150 million euros related to the sale of Astir Vouliagmenis. For the whole year, NBG.... A higher QoQ drop was posted in the Greek ratio, which declined to 33.8 percent from 35.4 percent... funding at 5.8 billion remaining the lowest among NBG’s Greek peers. In addition, interbank repos stood
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Piraeus Bank posts minor losses in Q4, almost breaking even for 2016
EconomyBankingPiraeus Bank concluded the release of Greek banks’ fourth quarter (Q4) results on Friday evening... losses of 3.49 billion. The bank’s Greek operations recorded net profits of 74 million in 2016, which... increasing to -450 million from -335 million in Q3. In the Greek market, NPL formation stood at -492 million
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Newsletter 117 - 05/05/2017
. As a result, companies accordingly reduced their production for the eighth straight month. However, Greek... base and privatisations, could proceed irrespective of the negotiation process. The Greek pact.... The aim is to take the pressure off coalition deputies, who are concerned about approving the new fiscal
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