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NBG turns profitable in Q3, NPE stock drops further by 1 billion
EconomyBanking, mostly reflecting lower Eurosystem and wholesale funding cost that more than offset reduced loan... million hit from lower interest rates on reserves. On the cost front, operating expenses declined by 2... further cost containment after the implementation of a voluntary retirement plan targeting around 1,000
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Eurobank posts net profits of 38 mln in Q4 and 230 mln in 2016
EconomyBankingin Q4, reflecting weaker lending NII almost offset by lower funding cost related to Eurosystem... to lower funding cost. The management noted that Q4 trends are expected to be maintained this year... by 22.2 percent for the whole year, mostly due to lower government guarantees expenses. Continued cost
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Grand projects and even loftier ambitions drive Greece's energy project bonanza
EconomyFeaturesby Greece’s DEPA and Italy’s Edison. The total cost of the project is estimated at 220 million... is expected to cost 370 million euros. Another area of investment is gas storage, which is seen... mooted in the 1990s, but has been held back by cost and licensing disputes. The site is leased
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Alpha Bank profits at 41 mln in Q3, reach 53.3 mln in 9M
EconomyBankingeuros. Funding cost deescalation continued in Q3 2018, driven by reduced ELA reliance as well... in wholesale funding cost is expected in Q4 2018 as ELA approaches full elimination. On an aggregate... by 1.1 percent on an aggregate basis. The cost to income ratio came to 53.4 percent in the quarter
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Piraeus Bank posts net profit of 94 mln in Q3 and 40 mln in 9M
EconomyBankingoperating expenses also showed a decline of 6 percent. This was attributed to the bank’s cost... at reducing administrative costs, such as reduced advertising. The cost-to-income ratio in 9M decreased... came to 461 million against 832 million for the same period last year. The cost of risk for Q3
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Increase of 11 pct in minimum wage to have knock-on effect in economy
Economycreditors to give labour cost competitiveness to the economy. The minimum wage at the time was reduced... it, pushing lower the overall labour cost in the economy. The government estimates that about 600,000... of the announced increase and raised their concerns about the new labour cost, particularly for small
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Alpha Bank posts net profits of 27.5 mln in Q1, ELA eliminated
EconomyBanking. The recurring cost to income ratio came to 54.7 percent in the quarter from 53.4 percent in the previous quarter. Management noted that operating cost reduction was achieved through a combination.... As a result, in Q1 2019, the cost of risk fell to 137 bps over gross loans versus an average cost
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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... quarter, reflecting a fall of 8 percent both on a QoQ and YoY basis. The cost-to-income ratio stood... million compared to 163 million in Q1 2018. Cost-of-risk for Q1 2019 was at 181 bps. The Cost
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Govt augments support for businesses, workers as total outlay on economic boost reaches 6.8 bln
Economyincludes the state covering the cost of up the social security contributions for up to 2.4 mln... to the finance minister, the cost of suspending tax obligations will reach 2.1 bln euros. The suspension... on the payroll as well as the self-employed contributions will cost another 1.6 bln. One-off financial
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Newsletter 246 -03/04/2020
-employed under the protective umbrella, which includes the state covering the cost of up the social.... According to the finance minister, the cost of suspending tax obligations will reach 2.1 billion... the contributions of employees on the payroll as well as the self-employed contributions will cost another 1.6
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