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Piraeus Bank brings Q1 2015 losses down to 69 mln
EconomyBanking) to 245 million euros, mainly due to the elimination of several one-off items that burdened Q4 results..., mainly led by a contraction of the time deposit rate by 23 bps QoQ to 1.83 percent. Note that the higher...-offs of 300 million euros in the quarter. The slight rise mainly stems from an almost 1 pp increase
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Alpha Bank reports lower losses of 115.8 mln in Q1 2015
EconomyBankingquarter (Q1) of 2015, from 440.2 million in Q4 2014. The improving bottom-line result mainly reflects... 16.7 percent QoQ to 285.5 million. Compared to Q1 2014, staff costs are down by 18.2 percent, mainly... billion, mainly reflecting FX translation from shipping loans in Greece and CHF mortgages abroad
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Greek GDP falls by 0.2 pct in Q1 as uncertainty impacts on investments
EconomyMacroeconomya cumulative drop of more than 24 percent since 2008. This mainly results from a nosedive... quarter by 0.6 percent QoQ from 1.6 percent in Q4. This was mainly led by export of services (-1.7... to decelerate to 4.1 percent in 2015 and accelerate to 5.1 percent in 2016, mainly led by tourism
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Newsletter 29 - 05/06/2015
this year. Those measures mainly involve introducing a new VAT rate of 11 percent for to include... anticipated at that time. Those measures mainly involved increasing the hotel VAT rate from 6.5... for the ninth successive month. The reduction in output was mainly due to fewer new orders, largely
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Primary surplus 3.1 bln above target in H1 on severe underspend
EconomyMacroeconomyfigure for the first half outperformed target by 3.12 billion euros, mainly reflecting lower primary... by 1.65 billion mainly reflecting a significant underperformance of income tax. The latter continued... percent in the 6-month period to 3.89 billion, 1.43 billion below target. This is mainly attributed
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Wages index drops in Q2 to its lowest level since 2001
EconomyMacroeconomyon wages and labor market changes. For the private sector, this mainly reflects the devastating..., it mainly includes a series of salary cuts imposed by the bailout programmes. The non-seasonally adjusted... recorded in Q1. Compared to the previous quarter, it displays a rebound by 7.7 percent, yet this mainly
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Signifcant underspend covers revenue shortfall for budget primary surplus to August
EconomyMacroeconomyin the prior three months. Our understanding is that the reported improvement mainly reflects the payment... to 24.72 billion, 2.8 billion better than target. The bulk of this outperformance was mainly created in 3... proportionally below target. These mainly involve: 1) Grants to Manpower Employment Agency (at 32 percent
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Current account surplus jumps to 4.25 bln in July on SMP returns and nosedive in imports
EconomyMacroeconomypublished on Monday. The substantial improvement mainly reflects an inflow of 1.8 billion euros from...’ deficit mainly stems from a nosedive in imports by 35.5 percent or 1.58 billion in July, largely..., mainly stems from higher net investment income payments coupled with lower net other primary
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Crumbling Greek pension system threatens big fiscal gap, budget derailment
Economyyear. The ministry indicates that this mainly reflects lower than expected social security.... These mainly relate to pending pensions, i.e. applications for pensions for which the process has been... (mainly hospitals), 2.47 billion to private sector suppliers and more than 100 million to insured
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Banks' trading updates show slight improvement in core pre-provision income, deceleration in NPL formation
Economyrates. In contrast to NNI, fee income fell 5.4 percent QoQ to 72.4 million mainly weighed by increased... to 31 billion mainly driven by deposit outflows in Greece particularly in June. To counterbalance... mainly relates to negative movement in corporate loans and marked reduction in housing loans, while
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