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Newsletter 224 -18/10/2019
, while Emergency Liquidity Assistance (ELA) stood at 1.9 million euros. The BoG figures also revealed... the aggregate PIB balance landed on a deficit of 777 million euros. Eurosystem funding down by 699.8 mln... funding declined by a total of 4.72 billion euros. Greek banks’ Eurosystem funding fell by 699.8
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Alpha Bank posts net profits of 97.1 mln in 2019
EconomyBanking. Balance Sheet The bank fully eliminated Emergency Liquidity Assistance (ELA) in February 2019. The current amount for Eurosystem funding is made up fully of European Central Bank funding... disbursements at the end of Q3, lower wholesale funding costs and increased income from investments which
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Wage ruling gives gov't immediate fiscal headache, political one may come later
PoliticsGreek Politicson wage maturities If this proves to be correct, the government faces a challenge in finding... program review being carried out by the troika. It has struggled to reach this amount so finding... the impact that wage cuts would have on the party’s popularity. However, finding new savings could
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Alpha Bank posts loss of 94.1 mln in Q1
EconomyBankingend of the market. Like Eurobank and National, Alpha eliminated its ELA funding in May, while... loan NII mainly due to deleveraging offset by lower deposit expense and funding cost. Deposit repricing coupled with lower Eurosytem funding cost is expected to have a positive impact of circa 350
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Alpha Bank reports H1 profits of 267.4 mln on one-off item
EconomyBankingthat Alpha and the other three systemic banks have eliminated ELA funding since May. The bank’s Basel III.... The slight improvement mainly reflects higher deposit NII and lower funding cost, which more than offset... in deposit spread (by 9 bps) and further reduction in Central Bank funding balances and cost. Going forward
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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
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Piraeus Bank posts net profits of 31 mln in Q3, records improved asset quality trends
EconomyBankingmillion. The NII increase mostly reflects lower funding cost due to reduced reliance on Emergency Liquidity Assistance (ELA) funding and repo cost at negative rate, which more than offset the negative... single-digit NII growth going forward, on the back of lower deposit cost, positive impact on funding
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Moody’s changes outlook for Greek banks from negative to stable
EconomyBankingtheir reliance on the Emergency Liquidity Assistance (ELA) funding, Greek banks are expected to continue... on 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
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Alpha Bank posts net profits of 4.7 mln in Q3
EconomyBankingeliminated Emergency Liquidity Assistance (ELA) in February 2019. The current amount for Eurosystem funding is made up fully of European Central Bank funding. As of Q3, ECB funding fell by 900 million euros... the bank’s bond portfolio were partly counterbalanced by the lower wholesale funding costs. The Net
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Greek central government debt inches down to 320.42 bln in Q1
EconomyUnion - bilateral loans (52.9 billion) and EFSF (133.6 billion) - and 28.4 billion... Management Agency offered repos to cover short-term funding gaps. The debt structure showed marginal changes
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