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Piraeus Bank posts net profit of 94 mln in Q3 and 40 mln in 9M
EconomyBanking(ELA) was completely eliminated during Q3. Interbank repos came to 2.2 billion in September from 3.3 billion in June. The bank notes that the drop came from shifting interbank repo funding... will gradually have a positive result on the cost of risk for Piraeus Bank. Balance Sheet Eurosystem funding
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What is the state of play with Greek banks?
Economy, other cost cutting initiatives, lower funding cost and disposal of non-core assets will also be taken into account. Lower funding cost is the key top-line positive element stemming from the sharp reduction of time deposit rate on the new production by c1.40 percentage points to 3.3 percent
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Deposits up again in December but credit contraction continues apace
EconomyMacroeconomymillion in November. In particular, housing loan balances contracted 3.3 percent to 71.05 billion... the recorded deposit inflows in December, Greek banks’ Eurosystem funding (the combined liquidity... funding purposes). Credit contraction At the same time, the year on year (yoy) credit contraction
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General gov't primary cash surplus rises to 3.4 bln in Oct but arrears also growing
EconomyMacroeconomyrefund arrears) continued heading north for the third straight month rising by 3.3 percent month... in September. Short-term loans relate to intra-government funding via the cash reserves of the gg... as of June. That development reflected Greek banks’ zero reliance on ELA funding as of May
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Sharp drop in gg primary surplus by end-April, arrears keep rising
EconomyMacroeconomyat 14.95 billion (4.8 percent) and repos at 10.31 billion (3.3 percent). According to a document... to cover its short-term funding needs. In absolute numbers, arrears increased to 4.82 billion in April... used for ECB funding. At the same time, bank support scheme guarantees slightly rose to 43.47
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Coalition sees key targets met in debt deal but opposition has holes to pick
PoliticsGreek Politicsby the European Stability Mechanism, of which 3.3 billion euros will be used to buy back debt held by other... Eurogroup in Luxembourg, an agreement that ensures Greece’s medium-term funding needs will be kept... of 24.1 billion euros that will cover its funding needs for almost two years. Once the debt buy-back
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Eurobank posts loss of 1.21 bln euros in 2020 as it sheds off bad loans
EconomyBankingto participate in the government’s Hercules II asset protection scheme. Mexico will consist of about 3.3... of Risk -- compared to 170 basis points in 2019. Balance Sheet Eurosystem funding came to 8 billion..., the entirety of the Eurosystem funding came from the European Central Bank’s TLTRO program
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Newsletter 288 - 12/03/2021
will consist of about 3.3 billion euros of loans -- of which about 85 percent will be retail, 15 percent... in 2019. Eurosystem funding came to 8 billion euros in 2020, after it had dipped to 1.9 billion... Assistance, which remains fully eliminated. Instead, the entirety of the Eurosystem funding came from
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Piraeus announces transformation plan amid 2020 loss of 662 mln
EconomyBanking, mainly due to the first group of moratoria expirations. During Q4, 3.3 billion euros of moratoria... to deposits ratio came to 77 percent. Eurosystem funding increased to 11 billion euros from just 400... refinancing operations (TLTRO III) funding. Gross loans before impairments and adjustments totalled
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Piraeus Bank impairments impact H1 results as NPE clean-up accelerates
EconomyBankingstood at 491 million, a rise of 9 percent YoY. Impairment charges came to 3.3 billion euros... percent and the net loans to deposits ratio came to 65 percent. Eurosystem funding stood at 13.5... utilisation of the ECB’s targeted long-term refinancing operations (TLTRO III) funding. Net loans
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