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ND moves to dismiss charges against former ministers against opposition objections
PoliticsGreek Politicstheir predecessors SYRIZA. Their findings are in stark contrast to those of lawmakers from the main... by default. The findings will be delivered to the Speaker of Parliament on February 27, and he
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Piraeus Bank reports net profit of 164.3 mln in Q2
EconomyBankingfunding cost, also involving a 26 bps drop in time deposit rates, and higher loan NII. June time... realised so far 65 percent of the targeted cost synergies and 100 percent of funding synergies... and Eurobank at 103 percent and lower than Alpha’s at 119 percent. Eurosystem funding remained flat QoQ at 10
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Newsletter 12 - 23/01/2015
of the bailout programme will be discussed at that meeting. The next important matter concerns Greece’s funding... their own funding needs given their recent constraints. On top of that, Greek banks are facing a gradual lack of renewal of interbank repos up to 9 billion, while collateral related to ECB funding
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Greece prepares set of proposals for bridging deal with eurozone
PoliticsGreek Politicsfunding for paying redemptions of bonds held by the ECB of 6.7 billion in the July-August period... Organisation to grant 30,000 apartments with a rent subsidy of 3 euros per square meter (54 million). Funding needs Greece’s funding needs amount to 4.1 billion euros by the end of March, 4.3 billion
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Deposit outflow slows to 2.19 bln in Mar as balances slip to lowest in 10 yrs
EconomyMacroeconomyto the coverage of the state’s funding needs mainly related to debt redemptions and IMF payments... banks’ Eurosystem funding rising to 107.18 billion at the end of March, up by 62.33 billion on the end-November figure of 44.85 billion. More importantly, 64 percent of central bank funding relates
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Banks' trading updates show slight improvement in core pre-provision income, deceleration in NPL formation
Economythat prevailed in the Greek market in Q2. At the same time, Eurosystem funding rose by 7 billion to 37.3 billion in Q2 with around 60 percent made up by ELA funding. The improving liquidity conditions... Bank funding by 1.5 billion in the course of Q3 to 35.8 billion at the end of September. The bank
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Eurobank turns profitable in Q1 for first time since Q3 2011, with net profit of 60 mln
EconomyBankingto 382.8 million mainly driven by lower funding cost resulting from a reduction in Eurosystem funding.... As expected, Eurosystem funding further dropped in Q1 to 22.9 billion in March from 25.3 billion in December, while has slipped to 22.8 billion in May. The breakdown shows ELA funding currently stands
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Marginal deposit flow in April for second straight month
EconomyMacroeconomy’ reliance on Eurosystem funding dropped for the tenth consecutive month by 1.88 billion to 99.57 billion in April. The monthly drop is entirely due to a fall in ECB funding by 2.57 billion, while the Emergency Liquidity Assistance (ELA) funding rose by 690 million in April. Central Bank funding has
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Marginal net losses of 2 mln for Alpha in Q1
EconomyBankingattributed the lower core income to the calendar effect. The bank benefitted from lower funding costs due to the reduced reliance on the Emergency Liquidity Assistance (ELA) funding, which was offset... a rise of NPEs by 1.2 billion for the whole year. Eurosystem Eurosystem funding was slightly
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Piraeus Bank posts minor losses in Q4, almost breaking even for 2016
EconomyBankingdown 0.5 percent QoQ to 453.2 million in Q4 as the positive impact from the lower funding cost... Eurosystem funding was reduced by 2.9 billion QoQ to 20.9 billion at the end of December with ELA funding... its interbank funding through EFSF bond repos increased by 800 million QoQ to 6 billion at the end
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