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Newsletter 186 -07/12/2018
in bonds maturing in 2019, while the repayments to the IMF amount to just short of 2 billion euros. Out of the bonds total, close to 5.8 billion euros is bonds held by the Eurosystem while 2.5 billion...’s growth to 1.7 percent. On an annual basis, GDP growth has stayed above 2 percent for four out
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Alpha Bank and Eurobank start new year with further bad loan sales
EconomyBankingunsecured NPLs (Mercury project) with a total outstanding balance of 2.1 billion euros and a total... pile. The merger also meant that Eurobank is now the best capitalised bank in Greece, with total... NPEs through a combination of the 7 billion transferred to the SPV and 2 billion from
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Piraeus Bank posts net profit of 185 mln in 2018
EconomyBanking2017. Net interest income (NII) rose by 2 percent quarter-on-quarter (QoQ) and came to 355 million... and had a total gross book value of 1.8 billion. Two further bad loan portfolio sales are also on schedule with a total gross book value of 1.7 billion euros. These are code named Project Nemo, (secured
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Piraeus Bank posts net profit of 14 mln in Q1 from continued operations
EconomyBankingeuros, representing a rise of 2 percent year-on-year (YoY). Asset quality NPEs fell by around 500... and 2 percent YoY. Management noted that 2 billion euros in new loans that were disbursed in the final quarter of last year are priced higher than the total portfolio, stimulating the NII dynamics
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Newsletter 222 -04/10/2019
still stood at 45.4 percent of total loans, down from 47.2 percent. Meanwhile, the effects from... Thomas Cook for 1, 2 and 3 star hotels came to an average of 48 percent of overall turnover for such hotels. For 2019, total losses to Greek hotels stemming from the collapse of Thomas Cook were
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Alpha Bank posts net profits of 4.7 mln in Q3
EconomyBanking(-2 million). Overall, the NPE ratio stood at 45.5 percent at a group level, with the NPE coverage... of Greek SMEs secured with real estate assets with total on-balance sheet gross book value... ratio at 67 percent. Total coverage including collateral came to 119 percent. Regarding
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Piraeus Bank posts net profit of 44 mln in Q3 from continued operations
EconomyBankingYoY. In the 9M period, NII came to 1.07 billion euros, higher by 2 percent YoY. Management noted..., reflecting a fall of 2 percent YoY and 3 percent QoQ. The cost-to-income ratio stood at 51 percent... at 800 million at the end of Q3 2019, down by 2 billion YoY. The bank fully eliminated ELA funding
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Newsletter 246 -03/04/2020
security contributions for up to 2.4 million workers in total for 45 days. He added that the addition... another 1.4 billion. This means that the total cost of these measures for March and April will reach 5.1... pledged comes to a total of 6.8 billion euros, or around 3.5 percent of Greece’s annual GDP. Despite
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Greece clinches attractive yield for 7-year bond amid testing conditions, diminished interest
Economycrisis by issuing a 7-year bond that raised 2 billion euros. The issue came during a challenging... managed to attract enough offers at reasonable rates to raise 2 billion euros at a reoffer price... of 263.4 basis points. Greece’s new issue matures on the 22nd of April 2027 and has a coupon of 2 pct
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Newsletter 255 -26/06/2020
Kathimerini, the government is looking for 2 billion euros fiscal space so it can get back on track... to make these interventions. It will have to agree to a primary surplus target of less than 2 percent... percent to zero arrivals. In total, arrivals from the EU 27 countries fell by 87.5 percent YoY
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