Search
-
Fitch affirms Greece’s rating at ‘CCC’
Economyto face very large funding imbalances with the Emergency Liquidity Assistance (ELA) funding making up 20 percent of their funding. In addition, the reinstatement of waiver is expected to allow only a fairly small portion (around 7 percent) of ELA funding to be shifted towards the cheaper ECB funding
10% -
Eurobank records net profits of 85 mln in Q3, updates on NPE reduction targets
EconomyBankingto 388.9 million in Q3, mainly driven by lower funding cost largely stemming from reduced reliance on the Emergency Liquidity Assistance (ELA) funding that more than offset a drop in the loan NII... until November 9. Since the end of June to date, ELA funding has been reduced by 2.7 billion to 13.1
10% -
Alpha Bank posts net profits of 48.1 mln in Q1, Greek NPE formation turns slightly negative on write-offs
EconomyBanking), while the weaker loan NII due to deleveraging was offset by lower funding cost. The latter related to reduced reliance on Emergency Liquidity Assistance (ELA) funding and lower pillar II bonds... by 500 million to 16.4 billion in May. Specifically, ELA funding fell from 13.2 billion last December
10% -
Alpha Bank's net profits decline to 21.1 million in 2017, fourth quarter makes loss
EconomyBankingAssistance (ELA) funding was reduced by a total of 6.2 billion since December 2016 to 7 billion in December... on reducing NPLs in line with our targets, eliminating ELA support, expanding our non interest... funding costs on the back of reduced ECB dependence. On an annual basis, NII was roughly stable
10% -
Piraeus Bank posts net profit of 14 mln in Q1 from continued operations
EconomyBankingwholesale funding cost impact following the total elimination of Emergency Liquidity Assistance (ELA... stood at 1.70 billion at the end of Q1 2019, down by 4.4 billion YoY. The bank fully eliminated ELA.... Improved funding costs also contributed NII performance. The new time deposits rate stood at 61 bps
10% -
Athens unmoved as relations with Russia become chillier
PoliticsForeign PolicyBilateral relations between the Greek government and Russia's President Vladimir Putin appear... to certain stories in the Greek media, the first crack in bilateral relations appeared. Greek... viewed Russia as a potential alternative source of funding in the event that the coalition was unable
10% -
The dragon's head roars in Athens
Agora) to expand bilateral cooperation. Inter alia, they include Greek agricultural exports (e.g. saffron... made in deepening Sino-Greek relations while simultaneously emphasising that this bilateral... facility and the development of a new port logistics center. The concession process and funding
10% -
Greece aiming to agree updated migration deal with Turkey
PoliticsForeign Policyand Asylum Pact. The third issue is of a bilateral nature since the EU-Turkey agreement did... accepted returns, whenever this is feasible. But due to the bilateral nature of this issue... will seek further EU funding. Following the elections in his country earlier this year, Erdogan has
10% -
Greek gg primary cash surplus at 2.2 bln in 2014, arrears down to 3.75 bln
EconomyMacroeconomyGreek banks’ zero reliance on ELA funding as of May. However, this figure is expected to rise again... by 5.6 billion euros to 43.16 billion. 2) The elimination of the Emergency Liquidity Assistance (ELA.... This funding source was utilised for the first time in Q1 2014 and relates to intra-government funding
10% -
Banking system showed deposit inflows for second straight month, at 531 mln in Sept
EconomyMacroeconomyamount of 5.19 billion largely attributed to a decline in the Emergency Liquidity Assistance (ELA... August 18, the ECB Governing Council decided to reduce the ELA ceiling for Greek banks five times... for almost 70 percent of that month’s outflows. At the same time, Greek banks’ Eurosystem funding
10%