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National Bank reveals capital plan, which includes sale of whole Finansbank stake
EconomyBankingTier 1 (CET1) capital of 6 billion and CEt1 ratio of 9.5 percent. The announced capital actions plus... as Common Equity Tier 1 (CET1) capital (“pari passu” with common shares) but they are an expensive
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Budget execution improves significantly in Oct, primary surplus reaches 4.53 bln
EconomyMacroeconomyincome tax fell by 1 percent to 922 million. Total ENFIA revenues are targeted at 2.65 billion euros... that remain proportionally well below targets. These mainly involve: 1) Grants to Manpower... million) 6) Other social protection income support (at 36.6 percent of the full year target of 130
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Greece receives list of milestones for next bailout sub-tranche
EconomyProgrammeof milestones Greece has to implement in the next three weeks for the disbursement of the next sub-tranche of 1... to: 1) Preparation of a plan for the establishment of a new independent secretariat of public... legislation for the household insolvency. 6) Settlement of non-performing loans (NPLs) including the legal
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Greece stands on fault line between vicious and virtuous cycles for 2016
Agorainterest bill is below 6 billion. In total, Greece needs 13.2 billion euros to meet all its debt... an extensive pensions cost saving exercise that has to deliver complete savings of 1 percent of GDP... in Yen maturing in February. The state’s budget foresees a primary surplus of over 1 billion euros
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Gov't submits reform plan that raises contributions and cuts future pensions
EconomyProgrammerates. We present below the key interventions of the government’s 170-page final plan: 1... and at 46.7 percent for 40 working years. 6) The overall main pension replacement rate also takes... for the supplementary funds increases by 1 percentage point (pp) to 4 percent for employers and by 0.5 pp
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General gov't primary cash surplus more than doubles to 4.14 bln in 2015, arrears ease to 5.4 bln
EconomyMacroeconomyin expenditure (-6 percent) to 34.9 billion euros compared to that of revenues (-4.3 percent) to 35.33... indicated it would repay a portion of arrears with part of the last two sub-tranches of 2 and 1 billion...-tranche (1 billion) and payment to the IMF (1.2 billion). The other debt components were kept stable
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Eurobank reports loss in Q4 and for 2015, management expects bank to turn profitable in 2016
EconomyBankingfor cost of risk south of 2 percent in 2016 and below 1 percent in 2017-18. The overall stock... funding fell by more than 6 billion QoQ to 25.3 billion at the end of December and further to 24.3... the capital raising in November, the bank’s phased-in Common Equity Tier 1 (CET1) ratio increased to 17
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Loss-making Q4 and 2015 for Alpha, targets positive bottom-line in 2016
EconomyBanking. The bank estimates a further reduction in staff costs by up to 6 percent to around 500 million... raising in November, the bank’s Common Equity Tier 1 (CET1) ratio reached 16.7 percent, while... targets a return on assets (RoA) ratio above 1 percent, cost to income ratio at 40 percent (from 50
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Newsletter 67 - 18/03/2016
would yield at least 1 percent of GDP, as was foreseen in the third memorandum of understanding... for the targeted pension cost savings of 1 percent of GDP to be achieved. The lenders are also insisting... as well as a jump in loan provisions. Core pre-provision income (PPI) improved by 6 percent quarter
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Government faces tight schedule for amendments to bailout legislation
EconomyProgrammefor development and management of the total area of 6 million square meters for 99 years. Houliarakis said... actions by June 1, before the meeting of the ECB Governing Council on June 2, which is expected... sub-tranche. Houliarakis said that 1.8 billion euros (1 percent of GDP) of this amount will be used
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