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  1. Greek banks set for early ELA return in apparent precautionary move
    Bank of Greece

    Economy

    . Responsibility for the provision of ELA lies with the NCB, which means that the cost of, and the risk from, the provision of ELA are incurred by the BoG. The cost of ELA funding is 150 bps over ECB main..., are eligible for ELA funding. Based on September’s figures, this would correspond to an additional funding cost

    5%

  2. Eurobank posts loss of 523.7 mln in Q4 2014
    Photo by MacroPolis

    EconomyBanking

    deposit cost, while loan NII slightly eased. It is noteworthy that Greek NII improved QoQ for the seventh... primarily led by an 8 bps improvement in the Greek NIM. The lower deposit cost mainly stems from... mark for 2015. Loan loss provisions increased by 26.1 percent QoQ to 742 million with the cost

    5%

  3. Alpha Bank net losses rise to 440mln in Q4 2014, NPL ratio at 33 pct
    Photo by MacroPolis

    EconomyBanking

    interest income (NII) improved by 0.8 percent QoQ to 495.3 million on lower deposit cost primarily... million the reported figure landed at 1.65 billion. In Q3, the bank booked a one-off cost of 195 million related to the voluntary separation scheme (VSS) for 2,208 employees with an estimated cost saving

    5%

  4. Piraeus Bank net losses at 332 mln in Q4 2014, NPLs drop under 39 pct
    Photo by MacroPolis

    EconomyBanking

    expenses is largely owed to a one-off cost of 66 million related to the implementation of a voluntary... by 41 percent to 803 branches. At the end of 2014, that bank realised 88 percent of the targeted cost... corresponding to a cost of risk of 2.85 percent. For the whole year, cost of risk stood at 5 percent

    5%

  5. Court ruling on pension cuts could create new problem in talks, fiscal plans
    Photo by MacroPolis

    EconomyProgramme

    that pensions had already been cut before they were reduced further in 2012. The cost of such a decision... monthly installments, with the cost of 415 million (half of the nominal 829 million) burdening the 2014... for pensions below the 700-euro limit. The government estimates that the cost of the partial reintroduction

    5%

  6. Sharp increase for Greek bank provisions in Q2 due to capital shortfall highlighted by ECB

    EconomyBanking

    cost more than offsetting the increased wholesale funding cost, particularly in Q2, due to the higher... on the back of lower deposit cost, leading core PPI (excluding one-off items) up 1.1 percent QoQ... more than offsetting the lower time deposit cost. Gross loans slipped 1 percent QoQ to 73.28 billion

    5%

  7. Unresolved pensions issues complicate the fiscal front

    EconomyProgramme

    to the Auxiliary Insurance Fund for Public Sector Employees (TPDY). The incremental annual cost..., of which 2.91 million were main pensions with a monthly cost of 2.1 billion and 1.65 million were supplementary pensions with a monthly cost of 279 million. This entails an annual pension cost of 28.54

    5%

  8. Piraeus posts 1.24 bln loss in Q4 on jump in loan provisions
    Photo by MacroPolis

    EconomyBanking

    exceptional costs of 163 million euros in Q4 of which 110 million relate to cost provision of a new voluntary exit scheme, 35 million to resolution fund’s cost and 19 million to other one-off costs... billion for the full year, on higher funding cost related to increased reliance to the Emergency Liquidity

    5%

  9. NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
    Photo by MacroPolis

    EconomyBanking

    deposit cost in the Greek market driven by time deposit repricing and deposit mix rebalancing. In contrast..., NII fell 5 percent to 1.91 billion euros. It was mainly dragged downwards by the higher ELA cost... of waiver on Greek government securities and lower deposit cost. Fee income strongly rebounded by 18 percent

    5%

  10. Alpha Bank posts net profits of 41 mln in Q3, discloses NPE reduction targets
    Photo by MacroPolis

    EconomyBanking

    cost was offset by lower loan and bond NII. Going forward the management expects NII to remain broadly stable as the anticipated ongoing drop in funding cost would be counterbalanced by further decrease... QoQ to 257 million in Q3 entailing a cost of risk (provisions over gross loans) of 168 basis points

    5%