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Newsletter 142 -1/12/2017
to Saudi Arabia due to its role in Yemen. On Thursday, in a non-binding vote, the European Parliament adopted a resolution, following a 368 to 221 vote, to call on the EU to impose an arms embargo on Saudi
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Eurobank first to tackle NPL reduction via APS
EconomyBankingand the Cairo securitisation mezzanine note following Eurobank’s call for binding offers from
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Athens sees multiple defence, geopolitical benefits in pact with France
PoliticsForeign Policyas well as one allowing autonomous action, if circumstances call for it. This is particularly evident... sides to the negotiating table to resolve their differences, or to agree to binding international
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Net profit of 87 mln for NBG in Q1
EconomyBankingGreek banks. During the conference call, the management said it expects an improvement in liquidity..., largely on the back of lower reliance on the Emergency Liquidity Assistance (ELA) funding and time... for funding. Operating expenses fell 7 percent QoQ and 2.2 percent year on year (YoY) to 309 million
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Eurobank remains profitable with net profits of 46.2 mln in Q2
EconomyBanking. During the conference call, the management noted that the draft plan submitted to the regulator...) improved 1.3 percent QoQ to 387.7 million mainly driven by lower funding cost related to reduced reliance... sold 72 million NPLs in Bulgaria. Eurosystem funding dropped by 1.4 billion QoQ to 21.5 billion
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Eurobank posts net profits of 38 mln in Q4 and 230 mln in 2016
EconomyBankingpercent in Q4 from 65.5 percent in the previous quarter. During the conference call, the management noted... in Q4, reflecting weaker lending NII almost offset by lower funding cost related to Eurosystem funding, pillar II bonds and deposits. For the whole year, NII increased by 5.8 percent largely due
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Piraeus Bank records net losses of 6 mln in Q1, further reduction in NPE stock
EconomyBankingthe conference call, management appeared optimistic that the end-2017 NPE and NPL reduction targets...) contracted by 3 percent QoQ to 440 million, as the positive impact from lower funding cost... for the whole year. Balance Sheet Eurosystem funding fell by 5.4 billion QoQ to 15.5 billion in Q1
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Alpha Bank remains profitable in Q2, NPEs reduced further
EconomyBankingduring the conference call that “we are confident of meeting the full-year NPE reduction target...), higher bond income and lower funding cost, which outweighed a slight drop in loan and deposit income.... Provisions are seen close to 1 billion in 2017. Balance Sheet Eurosystem funding fell by 2 billion
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Piraeus Bank makes net profit of 12 mln in Q4, edges into profitability for 2017
EconomyBankingcall, management noted that it expects about 55 million of annual savings, or 5 percent of recurring... net loans. Balance Sheet Eurosystem funding fell by around 2.3 billion QoQ and came to 9.7 billion euros at the end of Q4. Across the year, funding fell by 11.2 billion. Emergency Liquidity Assistance
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Alpha Bank reports H1 profits of 267.4 mln on one-off item
EconomyBankingthe conference call, the management noted that the static balance sheet of 2013 will be used.... The slight improvement mainly reflects higher deposit NII and lower funding cost, which more than offset... in deposit spread (by 9 bps) and further reduction in Central Bank funding balances and cost. Going forward
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