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Newsletter 352 - 23/09/2022
surplus of 1 pct of GDP. The latest preliminary budget execution data is a source of optimism as the targets up to August were comfortably beaten, by close to 6 billion euros. Revenues were 5.7 billion... is above target by over 1 billion euros, thanks to 513 million of overperformance in personal income
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Newsletter 360 - 25/11/2022
for the economy after the strong rebound in the year following the pandemic and solid growth close to 6 pct... is reflected in the budget in the more modest growth of private consumption and exports, by only 1 pct..., the European Commission also takes a more modest outlook, with growth seen at 1 pct next year
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Alpha Bank's 2024 profits at 654 mln, commision income at 420 mln
EconomyBankingeuros in 2023, a rise of 6 percent. Normalised profit after tax was 861 million euros, from 787... 1.3 billion in 2023, up by 4 percent. P&L NII was 1.65 billion euros in 2024, down by 1 percent year... million euros in 2024, up 6 percent. Loan loss impairments dropped by 24 percent to 236 million
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What is the state of play with Greek banks?
Economy. Furthermore, a 6 percent cut in bank employee wages has already been in effect retroactively as of January 1... of their capital base was at high levels, with Alpha and Piraeus EBA core Tier 1 ratio (at the end... for National. As an indication, a 1 percentage point increase in the Greek NPL ratio would result
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Piraeus Bank reports net profit of 164.3 mln in Q2
EconomyBankingloan provisions eased by 1 percent to 475.7 million. Top-line results mainly incorporate... room for improvement in the deposit NII in the coming quarters. Operating expenses rose by 6... by 1 percent QoQ, cost of risk remained flat at 2.6 percent. Cumulative provisions (LLRs) improved
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This is where Greek gov't could find cash to cover May's obligations
EconomyProgramme3-month T-Bills worth 1 billion this week. This was the third key transaction related to payment...: a) Rollover of 1.4 billion 6-month T-Bills on May 6 with foreign investors holding a considerable... tranches, the first of 183 million on May 1 and the second of 697 million on May 12. d) Interest
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Pension and income tax reform bill sets out 4.4 bln in new measures
EconomyProgrammeof the proposed measures. The government aims to collect additional annual revenues of 1.7 billion euros (1... and around 640 million to incremental revenues. Cost savings 1) Elimination of the solidarity grant... million. 5) No increase in pensions in 2018 – 187 million. 6) Lower pensions for surviving relatives
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Draft budget sees primary surplus at 1.8 pct of GDP in 2017, revenue interventions of 2.5 bln
EconomyMacroeconomythe anticipated import rise of 3.3 percent. The unemployment rate is projected to slip by more than 1 percentage... by 0.6 percent in 2017. It is worth noting that nominal GDP is seen at 176.2 billion euros in 2016, 1... revenues. The most significant revenue interventions in 2017 involve: 1) Income tax reform (772 million) 2
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The key elements of the draft agreement between Greece and lenders
EconomyProgrammeto be voted in the Parliament. Those measures, which are not quantified in the document, include: 1...-discretionary spending 6) Additional permanent measures to be specified The draft sMoU notes... the use of the attrition rule starting from 1:5 in 2016 to 1:4 in 2017 and 1:3 in 2018.
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Newsletter 99 - 09/12/2016
of the last bailout tranche of 2.8 billion, mitigated by a decline in repos by 1 billion. The 2016... roughly 1 million Greeks in what was labelled a “social dividend”. Tsipras’s surprise pledge... on 6, KKE on 5.5 and Zoe Konstantopoulou’s Sailing for Freedom on 3. None of the other parties made
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