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Greek banks’ loan quality is deteriorating
Economyeuro2day.gr reported that an additional 1 billion euros in NPLs was created in March. If confirmed, this 3... resulted in an improvement of the NPL cash coverage by almost 7 points, bringing it close to 59...’ common equity tier 1 (CET1) ratios stood at adequate levels at the end of 2014, ranging from 12.1
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Piraeus Bank brings Q1 2015 losses down to 69 mln
EconomyBanking. Excluding these extraordinary factors, the recurring PPI improved by 7 percent QoQ to 266 million...-offs of 300 million euros in the quarter. The slight rise mainly stems from an almost 1 pp increase... Common Equity Tier 1 (CET1) ratio slipped to 11.9 percent in Q1 from 12.1 percent in Q4 and reflects
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Greece seeks 3-year programme that could exceed 65 bln
EconomyProgrammeuntil the end of 2018 standing at 29.8 billion euros including 1) Payments to the IMF of 9.9 billion... are required for clearing state arrears to the private sector (7 billion) as well as rebuilding buffers... with a positive or negative impact on the gross amount. 1) The preliminary DSA called
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Primary surplus 3.1 bln above target in H1 on severe underspend
EconomyMacroeconomypercent in June to 575 million well below the previous months’ figures ranging between 0.9 – 1... below the FY target namely: 1) Grants to Manpower Employment Agency (at 21.3 percent of the annual... of the annual target of 1.57 billion) 7) Agricultural subsidies (at 15.8 percent of the FY target of 591
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New time deposit rate fell 12 bps in August to record low of 1.19 pct amid capital controls
EconomyMacroeconomyon total new deposits down 7 bps to 0.71 percent in August, which is the lowest reading in the post... for amounts above 1 million euros soared by 76 bps to 4.70 percent offsetting the cumulative drop... 250,000 and 1 million euros nosedived by 76 bps to 5.07 percent, outweighing the 89 bps rise posted
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Fiscal target revision shows 3.07 bln 9-month primary surplus was 1.8 bln above target
Economybelow targets. These mainly involve: 1) Grants to Manpower Employment Agency (at 37.3 percent...) Consumption and non-allocated expenditure (at 39.8 percent of the annual target of 1.57 billion) 7... of the disbursement of the next two sub-tranches of 2 and 1 billion respectively may result in a further delay
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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... million. Motor Oil trades ex-interim dividend of 0.15 euros per share on December 7. Piraeus new shares
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Pension reform wrangle prompts Greece to consider going own way on contributions rise
EconomyProgramme) called for pension reform savings of 0.25 percent of GDP in 2015 and another 1 percent in 2016... in contributions could reach 2 percentage points (pp), of which 1.5 pp will burden employers (1 pp for main... Commissioner Pierre Moscovici in Brussels on December 7, with the latter noting the pair had “constructive
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Strong rebound of 7.7 pct in week for Greek stocks with jump in trading activity
Economyof 1 billion following the approval by the Parliament of the last multi-bill on prior actions... time since December 7 and closed at 623.07 on Friday. Banks recorded double-digit gains of 15.5...) and Motor Oil (-1 percent) also underperformed. The trading activity materially improved throughout
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Gov't submits reform plan that raises contributions and cuts future pensions
EconomyProgrammerates. We present below the key interventions of the government’s 170-page final plan: 1... would result in a replacement rate of around 57 percent. 7) According to estimates, the new pension... for the supplementary funds increases by 1 percentage point (pp) to 4 percent for employers and by 0.5 pp
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