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  1. Piraeus Bank sells first real-estate backed NPE portfolio worth 1.95 bln
    Photo by MacroPolis

    EconomyBanking

    . This will be achieved through a combination of restructurings, curings, liquidations and collections (-7 billion euros... billions euros by 2020, and the NPL balance to under 10 billion euros. Post-stress tests sales After

    13%
  2. Alpha Bank posts net profits of 65.2 mln in Q1, NPEs fall for fifth quarter
    Photo by MacroPolis

    EconomyBanking

    by the calendar effect of 10 million euros and lower contribution from loans. Lower average loan balances... was reduced from 7 billion ini Q4 to 4.8 billion in Q1, declining again to 3 billion in May. ECB

    13%
  3. Multi-bill passed, sub-tranche released but debt relief expectations dwindling
    Photo by MacroPolis

    EconomyProgramme

    that Athens would be content with 10 years. It seems, though, that not even this target will be met and the extension will be smaller, possibly at around 7 years. The length of the extension could be directly

    13%
  4. Alpha Bank makes loss of 52.9 mln in Q2, reaching profit of 12.3 mln in H1
    Photo by MacroPolis

    EconomyBanking

    and spread reduction in Q2 had a negative impact of 7 million euros. Lower interest income from bonds...), which offset a reduction from period results (-10 bps) and AFS reserves (-9 bps). The bank noted

    13%
  5. Turnover in tourism grows by 11.5 pct during Q2
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    to 10 percent. The figure for the same quarter last year showed an increase of 7.3 percent.... Revenues from French visitors rose by 11.9 percent to 276 million, while those from the UK rose by 7

    13%
  6. General govt primary cash surplus at 6.68 bln in October, arrears rise by 9 mln
    Photo by Manolis Tsafos/Fosphotos

    EconomyMacroeconomy

    Greece’s general government (gg) primary cash surplus came to 6.68 billion euros in the first 10 months of the year, up by 311 million euros compared to the same period last year, according... funds (+45 million) and state budget (+7 million). Since the start of the year, total arrears have

    13%
  7. Eurosystem funding falls by 978 mln in Nov, banknotes increase for fourth month
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    funding has been steadily falling, with the latest reduction coming on November 7, when the ECB... under the 35 billion-euro mark for 10 consecutive months. The total figure is now 1.84 billion euros

    13%
  8. Minimum wage increase set for end of January amid concerns about economic impact
    Photo by Panayotis Tzamaros/Fosphotos

    Economy

    Greece’s Labour Ministry is moving ahead with plans to increase the country’s minimum wage between 5 and 10 percent amid calls for caution over such measures. The issue is due to be discussed between.... According to reports, an increase of around 7 to 7.5 percent appears to be the favoured rate

    13%
  9. Travel balance rises by 73.5 pct in Nov, 9.7 pct in aggregate period
    Photo by MacroPolis

    EconomyMacroeconomy

    percent to 231,400. Visitors from non-euro areas within the EU 28 fell by 10 percent to around 235,900... percent to 4.3 million. Those from France increased by 7 percent to 1.5 million, while visitors from

    13%
  10. Newsletter 191 -25/01/2018

    Newsletters

    recommended a figure of between 5 and 10 percent. Several business associations have called... have preferred a 7- or 10-year bond but the recent falling yields for 5-year notes, which reached close

    13%