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Piraeus confirms deal with Intrum for 27bln in NPLs as Eurobank launches SPV
EconomyBankingentered into a strategic agreement with Intrum for the management of NPLs worth a total of 27... that will manage the real estate owned assets portfolio, which contains properties worth around 1 billion... inflows, plus third party REOs. The agreement values the platform at 410 million euros. The total
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IMF revises fiscal outlook, sees lower primary surpluses in coming years
EconomyMacroeconomy, which was scheduled to bring 1 percent of GDP in added revenues next year, and the new... balance turning to a small deficit of 0.3 percent this year, which accelerates to 1 percent next year... a small surplus over the next three years before a total deficit of 0.5 percent in 2023 and 2024. The IMF
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Newsletter 248 -24/04/2020
of total employment, adding extra value of 1.1 billion. A digital reboot of this size would boost... percent YoY. Travel payments also increased by 1 percent and came to 166.7 million. Foreign arrivals... percent YoY. Average expenditure per trip rose by 1 percent to 370.9 euros in the aggregate period, versus
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Eurobank net results show profit of 176 mln in H1
EconomyBankingnow stands at 15.3 percent in H1 compared to 32.8 percent in H1 2019. Total provisions account... III programme. Greek deposits decreased by around 200 million QoQ to 32.7 billion, with total... the same period from 86.5 percent in H1 2019. Capital The phased-in Common Equity Tier 1 (CET1) ratio came
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Newsletter 298 - 28/05/2021
up to 72 months. In total, more than 40 billion euros of Greece’s own resources as well as European... June 1, there will be no more protection for main homes, leaving homeowners who have run into debt... euros. The total NPE stock came to 21.3 billion euros. Impairment losses on loans stood at 390.6 million
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Piraeus books losses of 3 bln as NPEs drop by nearly 17 bln
EconomyBanking2021, 7.2 billion euros of Sunrise 1 in Q3 2021 and 2.7 billion euros of Sunrise 2 in Q4 2021... 90 million euros in 2020. Total operating expenses stood at 933 million, a drop of 14 percent YoY... to 11.2 percent pro forma for share capital increase of 1.4 billion euros carried out in Q2. Tier 1 ratio
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Final budget sees 2.9 pct growth in 2024, primary surplus at 2.1 pct of GDP
EconomyMacroeconomybalance will come to 2.1 pct of GDP, from 1.1 pct this year. The total deficit will halve to 2.49..., reaching 35.17 billion euros, from 33.7 billion euros in 2023. VAT is expected to rise by more than 1... 20.95 billion euros in 2023. Specifically, income tax paid by individuals will increase by roughly 1
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Newsletter 425 - 31/05/2024
captured by the data, as 40 pct of the total savings comes from 1 pct of the Greek households. Annual... to be considering a reduction of up to 1 percentage point in employers’ contributions, which Mitsotakis said... in the banking sector turned negative in April by 789 million euros, from a positive movement of nearly 2
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Central govt debt rises by 1.5 bln in Q2, to 407 bln
EconomyMacroeconomyyears) debt made up 71.2 percent of the total, while short-term (up to 1 year) and medium-term (1... reflect a rise of nearly 2 billion euros in bonds and higher repos by roughly of 1.5 billion euros... of the total, accounting for 56 percent. The value of FSM loans came to 227.11 billion euros in Q2, unchanged
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Here's why Greece's fiscal difficulties will dominate the agenda
EconomyProgrammeThe budget execution for January revealed a revenue shortfall of almost 1 billion euros, mainly reflecting... with a net cost of 2 billion euros. As later clarified by senior SYRIZA officials, the net cost... amount close to 1 billion euros, creating a similar revenue gap in case this levy is abolished
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