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NBG reports net losses of 401 mln in Q3, NPL formation accelerates in Greece
EconomyBankingand change in the deposit mix. Fee income dropped by 12 percent QoQ to 111 million euros largely... (ELA) funding. The Common Equity Tier 1 (CET1) ratio remained almost stable QoQ at 9.6 percent... of around 1 billion and sale of 100 percent of Finansbank. However, since the completion
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Greece stands on fault line between vicious and virtuous cycles for 2016
Agoraof the July 12 summit there has been nothing to suggest a repeat of the tension of 2015. In fact... an extensive pensions cost saving exercise that has to deliver complete savings of 1 percent of GDP... in Yen maturing in February. The state’s budget foresees a primary surplus of over 1 billion euros
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Time deposit rate eases by another 5 bps in Nov, average loan rate drops 16 bps
EconomyMacroeconomy, the respective rate rose to 5.22 percent (amounts between 250,000 and 1 million euros). It fell to 5 percent for amounts above 1 million euros. The corporate lending rates in Greece stand around 200-300... of the Greek banking market down by 12 bps to 4.34 percent in November after reaching a year-high of 4.46
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Cosco's 369 mln Piraeus Port improved bid accepted, seals latest privatisation
EconomyBankingbinding offer on December 21, which was unsealed on January 12 with HRADF requesting the submission... in OLP and 1 position in the BoD. It is reminded that COSCO, one of the largest Chinese state-owned... been effective from October 1, 2009, involved the management of OLP’s Piers II and III
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Newsletter 62 - 12/02/2016
, which would be reduced by 1 percentage point for incremental income of 1,000 euros. Thus, the discount... for Greece saving 1.8 billion euros (equivalent to 1 percent of GDP) this year in order to meet its... less than 12 percent since the beginning of the crisis due to the Greek economy contracting by around
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Eurobank reports loss in Q4 and for 2015, management expects bank to turn profitable in 2016
EconomyBankingSingle Resolution Fund of 30 million and 12 million one-off contribution to the resolution... for cost of risk south of 2 percent in 2016 and below 1 percent in 2017-18. The overall stock... the capital raising in November, the bank’s phased-in Common Equity Tier 1 (CET1) ratio increased to 17
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A breakdown of the 5.4 bln in measures that form basis of agreement between Greece and creditors
EconomyProgrammeand indirect tax measures, with estimated revenues or cost savings of 1 percent of GDP (1.8 billion... from 2.2 percent for incomes between 12 – 20,000 euros up to 10 percent for incomes above 220,000... retirement pay amount exceeds 1,300 euros, rise in contributions for supplementary pensions by 1
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Government hopes offer of tax breaks and grants will spark growth boost
EconomyMacroeconomyof investments, the law foresees a stable tax rate for 12 years or a tax exemption up to 10 percent... study revealed that an investment of 1 euro in one quarter results in a cumulative increase of GDP... 1 billion. The two scenarios assume state subsidies of 3.5 billion. Market sources note that around
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Piraeus Bank posts minor losses in Q4, almost breaking even for 2016
EconomyBanking, the NPL stock declined further by more than 1 billion QoQ to 24.38 billion in Q4 from 25.35... has been reduced by 1.5 billion euros over the last 12 months, while the respective decline.... The Common Equity Tier 1 (Tier1) ratio fell to 17 percent in Q4 from 17.6 percent in the previous quarter
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Greece sees highest tax wedge increase among OECD countries in 2016
EconomyThe tax wedge in Greece remained above the OECD average in 2016, when it increased by more than 1... married couple with two children, where the Greek figure stood at 38.3 percent in 2016. This was almost 12... by 1.1 pp until 2016, while the respective OECD average has dropped by 1 pp over this period
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