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Credit contraction slows to 1.5 pct in Sept on marked drop in corporate loan deductions
EconomyMacroeconomyprogramme was fuelled by the imposition of capital controls in late June, leading to a recession in 2015... Single Supervisory Mechanism (SSM) will announce Greek banks’ capital needs on October 31, while capital increases will follow. A successful completion of the bank recapitalisation process coupled
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Coalition in rush to wrap up pending bailout issues
EconomyProgrammein a segregated account in Luxemburg. Greek banks are starting the book building process to raise capital from private investors but at least two banks are expected to seek official capital support to cover their capital shortfall under the adverse stress test scenario. New prior actions According
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Current account deficit falls to 780 mln in Dec and 7.5 mln in 2015
EconomyMacroeconomybanking system due to the capital controls. Excluding oil and ships, exports of goods rose by 4.6...’ surplus by 6.9 percent in 2015 is attributed to lower net transport receipts amid capital controls... mainly reflecting an inflow of 350 million related to Fairfax’s participation in Eurobank capital
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NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
EconomyBankingQoQ to 103 million in Q4 from a low of 87 million in Q3 amid capital controls. Operating expenses... of 99 percent in Q2. Following the capital raising in November and the disposal of Finansbank..., it anticipates 2016 would be a capital accretive year for NBG largely on sharp reduction in provisions coupled
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Greek stocks jump 2.8 pct during week on improved market sentiment
Economythe conclusion of the sale of its banking operations in FYROM to the Swiss Silk Road Capital. According to the bank, the transaction is capital neutral and is part of its restructuring plan. Alpha also said that Blackrock stake in its share capital fell below 5 percent. MSCI announced on Thursday evening
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Eurobank turns profitable in Q1 for first time since Q3 2011, with net profit of 60 mln
EconomyBankingmillion) adding that both transactions are expected to be capital accretive with positive P&L impact... the conference call that this would be more challenging before the full lift of capital controls... and 0.3 billion to other securities. On the capital front, the bank’s phased-in Common Equity Tier 1
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Newsletter 85 - 05/08/2016
successive Although capital controls have been eased, S&P does not expect any meaningful deposit inflows... losses, coupled with the return of the unused 10.93 billion EFSF bonds, partly mitigated by a capital.... Following the relaxation of capital controls, S&P upgraded the four core Greek banks’ ratings from SD
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The key elements of the draft agreement between Greece and lenders
EconomyProgrammestability Another area of significant importance is the one on the financial system and capital...) will send a quarterly report to the institutions including key statistics related to capital controls..., MoF and BoG will have to publish a roadmap for the relaxation of capital controls outlining
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S&P affirms Greece’s rating, outlook remains stable
Economyincremental, relaxation of capital controls. Moreover, the unemployment rate is seen falling by 2 percentage... capital into sectors that could create employment. Greece’s ratings could be upgraded in case of stronger growth, progress in reducing the huge stock of banks’ non-performing loans, lifting of capital
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Survey reveals opinions around Greek shipping cluster's potential
EconomyFeatures, titled “Re-positioning Greece as a global maritime capital” looked at what makes Greece’s shipping... capital of the world. In tonnage terms, Greece maintains the largest shipping fleet in the world... capital in the world.” “In spite of the perceived disadvantages of Piraeus and the growing attractiveness
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