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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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Greece is gasping for a deal
Agora. Greece has not received any bailout funding from its lenders since August but has kept meeting its debt... to unlock further funding, desperately short of cash. In order to cover its international and domestic... of bailout funding remaining (including 3.5 billion euros from the IMF) before the end of June
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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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Newsletter 47 - 16/10/2015
outcome relative to GDP, which remains unchanged at -0.24 percent. Eurosystem bank funding slips Greek banks’ Eurosystem funding slipped for the third straight month in September, when it fell by 1.58 billion euros, taking the total reduction during this period to 5.19 billion. Eurosystem funding
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Piraeus posts 1.24 bln loss in Q4 on jump in loan provisions
EconomyBankingbillion for the full year, on higher funding cost related to increased reliance to the Emergency Liquidity Assistance (ELA) funding. Similarly to Alpha and Eurobank, Piraeus also posted a marked QoQ rebound... coverage ratio at 47 percent. Eurosystem funding fell by 3.1 billion QoQ to 32.7 billion in Q4
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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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Alpha Bank reports net losses of 16.8 mln in Q2
EconomyBankingmillion euros as the benefit from the lower wholesale funding cost, on the back of lower reliance on ELA funding and reduced usage of pillar II bonds, was offset by lower loan NII. The latter reflects... and impairments of 0.3 billion. The bank’s Eurosystem funding fell by 1.4 billion QoQ to 22.7 billion
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