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Current account deficit narrows to 822 mln in April
EconomyMacroeconomylanding at 1.38 billion. BoG noted that the improvement in the goods’ balance is fully due to lower net oil bill. At the same time, the decrease in the services’ surplus mostly reflects lower net sea... billion, mainly attributed to improved oil balance stemming from lower oil prices. BoG figures showed
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Current account deficit widens to 412 mln in May
EconomyMacroeconomypercent and total exports 4.5 percent. The decline in the services’ surplus mainly results from lower net... in the goods’ balance largely reflects the improved oil balance, resulting from lower oil prices coupled with lower net payments for purchases of ships mainly due to capital controls. The marked drop
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Alpha Bank reports net losses of 16.8 mln in Q2
EconomyBankingmillion euros as the benefit from the lower wholesale funding cost, on the back of lower reliance on ELA funding and reduced usage of pillar II bonds, was offset by lower loan NII. The latter reflects lower lending spreads coupled with deleveraging. Net interest margin (NIM) slightly improved to 2.85
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Newsletter 98 - 02/12/2016
for lower fiscal targets after 2018 might be heeded. “Things might be different” after 2018, said Moscovici. A day earlier, Greek Finance Minister Euclid Tsakalotos challenged the institutions to lower... said, the government would commit to passing on the difference to SMEs in the form of lower taxes
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Jan-Nov budget primary surplus surges to 7.4 bln on solid revenue performance
EconomyMacroeconomyexecution bulletin showed on Thursday. The headline figure is 33 million lower than the preliminary.... This is attributed to revenue outperformance (by 1.28 billion), a notably lower Public Investment Budget... lower than target. Overall, net revenues increased by 8.8 percent to 44.65 billion in the January
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Eurobank posts net profits of 38 mln in Q4 and 230 mln in 2016
EconomyBankingquarter on quarter (QoQ) to 228.9 million in Q4, largely on the back of higher fee income and lower... in Q4, reflecting weaker lending NII almost offset by lower funding cost related to Eurosystem... to lower funding cost. The management noted that Q4 trends are expected to be maintained this year
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Banks saw asset quality and liquidity trends improve in Q4 but process interrupted in 2017
Agorasouth, decreasing by 4.7 billion over this period and mostly driven by lower dependence on ECB funding... since April 2016. It is worth noting that the lower dependence on ECB funding in the last five months... is mainly driven by lower funding costs related to decreasing time deposit cost and the declining
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Eurosystem funding drops by 2.2 bln in May, mostly on further decrease in ELA reliance
EconomyMacroeconomyby 1.4 billion coupled with lower ECB funding by 819 million. Specifically, ELA funding was reduced... to the conclusion of the second programme review. The lower dependence on ELA funding in May was largely... of this decrease attributed to lower ELA funding. Furthermore, Greek banks’ Eurosystem funding has
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Five-month budget primary surplus confirmed at 1.84 bln, beats target by 790 mln
EconomyMacroeconomyunderspend, with primary expenditure coming in 791 million lower than target. The monthly primary... offset by higher tax refunds and lower privatisation revenues. Expenditure Primary expenditure..., still entailing a strong underspend of 791 million. The latter largely reflects lower social
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Budget surplus at 1.94 bln in 6-month, 1.51 bln above target on strong underspend
EconomyMacroeconomyby 1.51 billion, reflecting a strong underspend with primary expenditure coming in 1.16 billion lower... as the outperformance of gross revenues was almost offset by lower privatisation revenues and higher... underspend of 1.16 billion. The MoF said that the lower-than-expected expenditure stemmed mainly
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