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  1. IFRS 9 provisions required by banks in line with expectations

    EconomyBanking

    is 1.1 billion euros net of tax, Eurobank announced with its full-year 2017 results that the impact... in 2018 is 11 basis points (bps) for Alpha, 16 bps for Eurobank, 25 bps for Piraeus and 50 bps for NBG. The total impact on capital adequacy is seen at 230 bps for Alpha, 290 bps for Eurobank, while

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  2. Greek banks' NPL selloff gathers speed
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyBanking

    , and the wheels are already in motion. Loan sales The first bank to take the plunge was Eurobank, which... Planning Services S.A. (FPS), a wholly owned subsidiary of Eurobank, licensed by the BoG. According to reports, Eurobank will receive a management commission of 0.5 percent of the principal loan pool

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  3. Banks step up securitisation drive following pandemic interruption

    EconomyBanking

    up for lost time in restoring the health of their balance sheets. Eurobank was at the most advanced... the overall transaction that included the sale of an 80 pct stake in its loan management arm Eurobank Financial Planning Services (FPS) to doValue. Eurobank signed a 14-year agreement, from 10 years

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  4. Newsletter 58 - 15/01/2016

    Newsletters

    . The government strongly insists on increasing revenues rather than cutting costs (i.e. pensions... of preferences is a near impossible task. It is made more complicated by the fact that the IMF sees cutting

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  5. Newsletter 108 - 24/02/2017

    Newsletters

    percent reduction in the ENFIA property tax, cutting VAT on electricity bills from 13 to 6 percent..., may be lowered below the 6,000-euros mark, entailing cutting the tax credit down to 1,300 euros

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  6. Labour market reforms did exactly what they were supposed to
    Photo by Panayotis Tzamaros/Fosphotos

    Agora

    , cutting private wages would have increased income inequality across the society. However, private... translate into lower labour costs in 2011, Greece’s lenders wanted to accelerate the reduction by cutting

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  7. Focus turns to first post-MoU visit by creditors and talks on pension cuts
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyProgramme

    that cutting pension expenditure by 1 percent of GDP is not necessary in fiscal or structural terms... cutting pensions next year, this could impact on the tax cuts and spending increases the government

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  8. Mitsotakis eyes tax cuts to jump-start economy, also seeks unity but not with SYRIZA
    Photo via @kmitsotakis

    PoliticsGreek Politics

    tax for the self-employed, cutting the VAT rate in the food service sector from 24 to 13 percent... that the fiscal space for his measures would be created by cutting spending in the public sector largely

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  9. Council of Europe report warns over austerity-inflamed inequality in education
    Photo by Panayotis Tzamaros/Fosphotos

    Society

    as a cost-cutting exercise. This led to students having to travel greater distances in order to access... of education in Greece was attributed in part to austerity measures which have led to the cutting of certain

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  10. What Greece imports and why
    Photo by Gerasimos Domenikos/Fosphotos

    EconomyFeatures

    with or drastically cutting back on food imports is not straightforward for a country that would otherwise... trade deficit is more likely going to involve ramping up exports rather than cutting back exports

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