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  1. Bank credit contracts by 1.6 pct in Oct on loan deductions of 308 mln
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    1.7 percent in September, Bank of Greece (BoG) figures displayed on Monday. The monthly net deductions stood at 308 million euros in October, from 355 million in the previous month and reflect a net... reading since June 2007. Overall, the ongoing loan deleveraging of Greek banks has resulted in net

    3%

  2. April current account deficit at 1.34 bln as goods deficit grows
    Image via www.moh.gr

    EconomyMacroeconomy

    . The BoG stated that the worsening of the goods balance deficit was attributable to a higher net oil... net travel receipts. Travel receipts rose by 7.2 percent to 1.62 billion in April, meaning... in all main subcategories. The goods deficit was driven mainly by a higher net oil import bill, while

    3%

  3. Banks remain largely profitable in Q2, with focus on NPL reductions
    Photo by Angelos Christofilopoulos/Fosphotos

    EconomyBanking

    impact of 324 million). Net profits in Q2 came to 82 million versus losses of 232 million in Q1... a net profit of 465 million euros from continued operations in H1, compared to 245 million euros in H1 2019. On a quarterly basis, net results showed a profit of 58 million euros in Q2, dropping by 86

    3%

  4. Newsletter 263 -11/09/2020

    Newsletters

    (including the Covid-19 impairment impact of 324 million). Net profits in Q2 came to 82 million versus... the pandemic and posted a net profit of 465 million euros from continued operations in H1, compared to 245 million euros in H1 2019. On a quarterly basis, net results showed a profit of 58 million

    3%

  5. What is the state of play with Greek banks?

    Economy

    of the crisis. Last year started with the implementation of PSI, which resulted in a 24.1-billion-euro net... on net interest income in the next quarters. Cost cutting is the second positive factor on the pre... currently conducted by Blackrock, an asset quality review as well as a troubled asset review, assessing

    3%

  6. National Bank posts losses of 159 mln in Q1 2015
    Photo by MacroPolis

    EconomyBanking

    National Bank (NBG) posted net losses of 159 million euros in the first quarter (Q1) of 2015 from... by 3 and 4 percent respectively. Net interest income (NII) fell 5 percent QoQ, largely stemming from... the lowest among the core Greek banks also reflecting the significantly better credit quality. In absolute

    3%

  7. EU makes dramatic revision to economic forecasts, sees recession of 2-4 pct this year
    Photo by MacroPolis

    Economy

    billion compared to 24 billion envisaged by the second bailout programme Net financing needs could... for net financing needs of 74 billion is 4 billion lower than that projected by the IMF. The EC notes... to 22 billion before. On the banking sector, EC says that in view of the worsening asset quality

    3%

  8. Piraeus posts 1.24 bln loss in Q4 on jump in loan provisions
    Photo by MacroPolis

    EconomyBanking

    Piraeus became on Wednesday the third Greek bank to report a net loss in Q4 of 2015 after declaring.... Net interest income (NII) remained stable QoQ at 463 million, while fell by 4 percent to 1.88... the asset quality, with the non-performing loan (NPL) formation markedly reduced to 80 million in Q4

    3%

  9. Details of technical agreement between Greece and lenders set out in draft sMoU
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyProgramme

    (MTFS) for 2018-2021, a pension reform with net savings of 1 percent of GDP in 2019-2021 and a personal income tax (PIT) reform also delivering net savings of 1 percent of GDP in 2020 and 2021... and means-tested reduction contributions to medicine costs) worth 0.7 percent of GDP, high-quality

    3%

  10. Banks meet NPE reduction targets in Q3, adjust targets for next two years
    Bank of Greece

    EconomyMacroeconomy

    in the retail portfolio, by around 1.2 billion. Targets for net inflows of NPEs have been adjusted to a more... affected re-default rates and net NPE inflows. Liquidations will remain a key driver, totalling 10.6... as mentioned by roughly 89 million. Commenting on the asset quality trends in Q3, BoG noted

    3%