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Alpha Bank posts loss of 94.1 mln in Q1
EconomyBankingloan NII mainly due to deleveraging offset by lower deposit expense and funding cost. Deposit repricing coupled with lower Eurosytem funding cost is expected to have a positive impact of circa 350.... The key drivers behind cost cutting involve the phasing-in of the new collective labor agreement
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Piraeus Bank reports loss of 247 mln for Q1
EconomyBankingattributed to lower deposit and funding cost and - to a lesser extent - loan margin improvement. Piraeus is the only Greek bank that posted a quarterly increase in NII. Cost containment also reflects... of the targeted fully-phased cost synergies of 345 million and 98 percent of the funding synergies of 160
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Settling rising private debt? The IMF has some ideas
Economy, will need to be weighed against the fiscal and political cost associated with reforms. Private sector... of court restructurings provide a speedy, cost-effective and market friendly alternative to court...). The key features that can help the benefits of government involvement outweigh the cost involve
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Piraeus Bank posts net loss of 1.56 bln in Q3
EconomyBankingthat the new time deposit rate stands at 180 bps in November suggesting further funding cost benefits in the coming quarters. Cost containment mainly reflects lower personnel expenses primarily... of the targeted cost synergies and 100 percent of funding synergies related to the acquisition of 5 banks
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Updated Greek reform proposals see 2015 primary surplus reaching programme target 3 pct
EconomyProgramme. On social security reforms, the MoF reiterates interventions with a total cost in excess of 1 billion euros, which are mainly related to the reintroduction of the 13th pension for low-income pensioners (cost of 600 million), the suspension of the zero-deficit clause for supplementary pensions (cost of 326
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Have inflation "repay" Greek debt and growth reduce indebtedness
Agoraat an interest rate of zero, this debt would be cost-free to Greece during this period and upon maturity... 80 billion euros for 50 years and to reduce the interest rate to zero, Germany’s annual cost of this measure would be equal to the cost of funding the 80 BEUR when those 80 billion don’t generate
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Eurobank turns profitable in Q1 for first time since Q3 2011, with net profit of 60 mln
EconomyBankingto 382.8 million mainly driven by lower funding cost resulting from a reduction in Eurosystem funding... expenses and depreciation charges. As a result, the cost-to-income ratio fell below the 50-percent mark... in operating income coupled with cost containment led PPI up by almost 58 percent QoQ to 261.1 million
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Piraeus Bank’s bottom line turns profitable with 20 mln net profits in Q2
EconomyBankingeuros on the back of lower Greek deposit cost and pillar II costs. Fee income also rose by 8.... The related cost has already been booked. Impairment losses dropped 8 percent QoQ to 265 million in Q2, corresponding to cost of risk (CoR) of 160 basis points (bps) from 172 bps in Q1, while the bank
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One-off loss affects NBG’s P&L, NPE stock drops by 900 mln in Q2
EconomyBankingpercent QoQ to 482 million largely driven by lower funding cost due to reduced Emergency Liquidity Assistance (ELA) funding as well as lower deposit cost. Fee and insurance income rose by 4 and 30 percent QoQ respectively, while core income also benefitted from a reduction of 15 million in the cost
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NBG turns profitable in Q3, NPE stock drops further by 1 billion
EconomyBanking, mostly reflecting lower Eurosystem and wholesale funding cost that more than offset reduced loan... million hit from lower interest rates on reserves. On the cost front, operating expenses declined by 2... further cost containment after the implementation of a voluntary retirement plan targeting around 1,000
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