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National Bank reveals capital plan, which includes sale of whole Finansbank stake
EconomyBankingas Common Equity Tier 1 (CET1) capital (“pari passu” with common shares) but they are an expensive capital support instrument bearing an annual coupon of 8 percent, which in NBG case means an interest... Tier 1 (CET1) capital of 6 billion and CEt1 ratio of 9.5 percent. The announced capital actions plus
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Stock market slips 1.4 pct dragged by huge bank losses
Economy-tranche of 1 billion. The General Index of the Athens Stock Exchange landed at 649.79 on Friday, which... were recorded by: Aegean Airlines (+8 percent), Grivalia (+6.1 percent), Athens Water – EYDAP (+4.4... until December 1 to facilitate the reverse split process, while the resulting shares will resume
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Weak banks drag Greek stocks down by 6.5 pct during week
Economyof milestones by December 11 to unlock the next sub-tranche of 1 billion euros. In the meantime... completed, while Piraeus also received the state aid of 2.7 billion on December 1. The Athens Stock Exchange... trading on December 8.
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The agenda of the first programme review shapes up with thorny issues
EconomyProgrammeFollowing the disbursement of the second sub-tranche of 1 billion on December 23, the next... of the first review. Local media indicate that discussions will officially kick off on January 8, while..., the government has pledged in the third memorandum of understanding (MoU) for cost savings of around 1
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Greek pensions: The unsolvable equation
AgoraLast July the conditionality of Greece’s third programme included savings of 1 percent of GDP from... at the end of 2013, took roughly 1 million people out of labour force. The latest figure as of October 2015... transfers for social security, excluding state pensions, to 13.9 billion euros, or around 8 percent
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Piraeus first Greek bank to repay Pillar II bonds, others to follow
EconomyBankingand III bonds at 15 and 8 billion respectively. The ceiling of Pillar II bonds was later extended up... 1 billion. In addition, Pillar III bonds were only held by NBG for a cash amount of 1.2 billion... basis points above that for ECB funding), while the fees paid to the Greek state exceed 1 percent
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One-off loss affects NBG’s P&L, NPE stock drops by 900 mln in Q2
EconomyBankingmillion, mainly reflecting lower costs related to pillar II bonds. Net interest income (NII) edged up 1.... Eurosystem funding markedly fell by almost 8 billion QoQ to 14.9 billion at the end of Q2... from 92 percent in the previous quarter remaining the lowest among core banks. The Common Equity Tier 1
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HFSF posts losses of 1.1 bln in H1 weighed down by valuation losses of bank holdings
EconomyBankingbillion, of which 1 billion relates to HFSF participation in the four systemic Greek banks. In specific, the market value of HFSF bank holdings fell by more than 1 billion in the course of the first... of 8 percent per annum for the first seven years. The statement of comprehensive income displayed
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With tax-free threshold set for change, income declarations underline need for rethink
EconomyProgramme-free threshold with the aim of securing additional revenues of 1 percent of GDP (1.8 billion euros... income lower than the 1,000-euro mark, more than 29 percent income between 1-5,000 euros and 8 percent..., the personal income tax rate to 15-20 percent and the top VAT rate of 24 percent by 1 pp
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Budget primary surplus of 1.1 billion slightly outperforms target by 77 million in Q1
EconomyMacroeconomyof 1.07 billion in March following a surplus of more than 1 billion recorded in each of the previous two... higher than target. It is pointed out that primary expenditure notably rose by more than 1 billion from... at 105 million (8 percent of the annual target of 1.3 billion) and consumption and non-allocated
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