Search
-
NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
EconomyBankingcash coverage ratio at 53 percent. Eurosystem funding dropped by 1.6 billion euros QoQ to 24 billion in Q4 and further to 23.4 billion on March 10. The current figure incorporates ECB funding of 12.5 billion and Emergency Liquidity Assistance (ELA) funding of 10.9 billion. The cash value
2% -
NBG completes sale of Finansbank to Qatar National Bank
EconomyBankingbonds, reducing accordingly its reliance on the Emergency Liquidity Assistance (ELA) funding and the associated funding cost. The cash value of the pledged pillar II bonds stood at 1.5 billion euros in May implying the nominal value stood close to 3 billion. The ELA funding cost stands 150 basis
2% -
Deposit inflows of 1.07 bln in June, highest in first half of 2016
EconomyMacroeconomy. Meanwhile, the reliance of Greek banks on Eurosystem funding notably dropped by 8.57 billion euros to 87.14 billion in June, reflecting of a sharp fall in ELA funding by 10.44 billion, while ECB funding rose by 1.87 billion. The reduced central bank funding in June mainly results from
2% -
S&P raises core Greek banks’ ratings, with a stable outlook
Economy. In addition, their funding positions will remain highly unbalance resulting in continued reliance on Eurosystem funding to cover their liquidity needs, S&P stresses. A rating upgrade would require... that would result in lower reliance on ECB funding, return to profitability and asset quality
2% -
One-off loss affects NBG’s P&L, NPE stock drops by 900 mln in Q2
EconomyBankingpercent QoQ to 482 million largely driven by lower funding cost due to reduced Emergency Liquidity Assistance (ELA) funding as well as lower deposit cost. Fee and insurance income rose by 4 and 30.... Eurosystem funding markedly fell by almost 8 billion QoQ to 14.9 billion at the end of Q2
2% -
Deposits grow by 1.3 bln in August, highest inflow in 2016
EconomyMacroeconomyon Eurosystem funding fell further by 4.39 billion to 78.46 billion at the end of August. The monthly movement reflects a decline in the Emergency Liquidity Assistance (ELA) and ECB funding by 2.55 and 1.83 billion respectively. Overall, Central Bank funding has dropped by 17.26 billion over the last three
2% -
Moody’s changes outlook for Greek banks from negative to stable
EconomyBankingon the back of improving profitability and funding, which are expected to normalise from a very weak..., largely due to significantly lower impairment losses, reduced funding costs and contained operating... their reliance on the Emergency Liquidity Assistance (ELA) funding, Greek banks are expected to continue
2% -
Positive deposit flow of 2.8 bln in Dec leads 2016 inflows to 4.2 bln
EconomyMacroeconomybanks’ Eurosystem funding declined by another 1.87 billion in December and landed at 66.62 billion, its... Assistance (ELA) funding by 1.37 billion, while ECB funding posted a smaller drop by 500 million. Overall, Eurosystem funding has declined by 60 billion euros since the July 2015 attributed
2% -
Review talks focus on out-of-court workout, jobs scheme and energy market
EconomyProgrammeof that programme relates to its funding, which was not discussed at Thursday’s meeting. Government sources noted after February 20 Eurogroup that the programme’s funding was estimated at around 3 billion euros... with the World Bank regarding the funding and technical expertise needed for this programme
2% -
NBG records net profits of 73 mln in Q4, turns profitable for whole year
EconomyBankingby 80 percent from last year. Balance Sheet Eurosystem funding dropped by just 300 million euros QoQ... in December. Central bank funding fell to 10.4 billion in March, with the current level of ELA funding at 5.8 billion remaining the lowest among NBG’s Greek peers. In addition, interbank repos stood
2%