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Eurobank net profit at 61.2 mln in Q3, NPE formation negative for fourth straight quarter
EconomyBankingat 369.3 million. This was mainly due to lower Eurosystem funding and Pillar II utilisation. On an annual... in particular fell to 7.5 billion in November from 11.2 billion in June. As of late October, outstanding Pillar... of the bank.” he said. “In addition we eliminated the use of Pillar II guarantees, completing a cycle
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Referendum and the ECB to determine the future of Greek banks
Economyindicate that the currently applied haircuts stand at around 20 percent for bank bonds with pillar... for Greek government bonds (GGBs) and less than 10 percent for T-Bills. Pillar II bonds made up 45... is equally split between state guaranteed securities (pillar II and III guarantees, GGBs and T-Bills
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National Bank reveals capital plan, which includes sale of whole Finansbank stake
EconomyBankingcapital needs of 4.6 billion. The first pillar involves an equity offering without pre-emptive rights... a resolution. The second pillar relates to a Liability Management Exercise (LME) involving a voluntary exchange... to raise capital up to 0.8 billion for the LME. The last key pillar involves the sale of 100 percent of its
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Encouraging signs for Greek banks in Q1 results but NPL management looms large
Agoraon an annual basis. Greek banks also reduced the pledged pillar II bonds by 5.4 billion euros... points (bps) to the state on the nominal value of the pledged pillar II bonds. Banks aim to further reduce their pillar II bonds in the coming quarters, with Piraeus having already eliminated its
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Alpha Bank reports net losses of 16.8 mln in Q2
EconomyBankingon ELA funding and reduced usage of pillar II bonds, was offset by lower loan NII. The latter reflects... Eurosystem cash buffer rose to 4.3 billion in August from 3.1 billion in March. Pillar II bonds.... The annual benefit from the repayment of pillar II bonds is estimated at 48 million. The ongoing
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Greece and lenders far apart on foreclosures as housing NPLs keep rising
EconomyProgrammedifference between the Greek government and the institutions during the 3-day visit of the quadriga...) be deemed eligible for protection. The quadriga appeared willing to discuss the threshold of 120,000... local media that the quadriga’s proposal would protect 17.3 percent of those with housing non
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Programme review talks continue, progress on tax, pensions and NPLs at a premium
EconomyProgrammean agreement could be clinched by March 25. The quadriga proposed to the Greek government last week.... According to this quadriga proposal, the current tax-free threshold of 9,550 euros would be lowered... tax break. Both the government and the quadriga proposals result in lower tax for those self
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Greece positions itself as a pillar of European and NATO security
PoliticsForeign PolicyThe recent escalation in the Middle East and Greece’s rapid operational response have renewed attention on the European Union’s mutual defence framework, while simultaneously highlighting Athens’s strategic role within both NATO and the broader regional...
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Reflecting annual base effect, retail sales rise 19 pct in Nov but fall on previous month
EconomyMacroeconomyand household equipment (+44.3 percent). Automotive fuel only saw a volume rise of 15.4 percent... in the previous year. On a monthly basis, the index dropped by 6.3 percent, compared to October 2021. Retail... in December. Consumer confidence had been on a declining trend since the previous high in May, when
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Greek industry's turnover index on the slide again in August after previous rises
Economyin the performance of industrial sectors. Three sectors: Mining of metal ores (up 52.4 percent), computers
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