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EconomyBanking
APS bill tabled, allowing use of 12 bln in state guarantees to reduce NPLs Greece’s much-anticipated Asset Protection Scheme (APS), nicknamed Hercules, that aims to help banks clean up their balance sheets is a few steps away from coming into effect after the Finance Ministry submitted the draft law to Parliament on Tuesday under the emergency procedure.
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EconomyBanking
BoG runs numbers to show how tackling NPE stock will benefit banks' bottom line In the financial stability report it issued last week, the Bank of Greece (BoG) emphasised the need for banks to reduce significantly the stock of non-performing exposures (NPE) and improve the composition of their capital base, 60 percent of which consists of deferred tax credits (DTC) and inhibits the systemic credit institutions.
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EconomyBanking
BoG urges banks to improve quality of capital, re-doubles SPV efforts In its latest financial stability report published on Thursday, the Bank of Greece (BoG) took stock of the various positive developments and encouraging signs for the economy and banking sector, while highlighting the challenges for systemic local banks, emanating from the quality of the loan portfolio and the composition of the capital structure that largely constitutes of deferred tax credits (DTC).
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EconomyProgramme
Eurogroup approves SMP and ANFA profit release, decision on investment use postponed The Greek authorities left yesterday’s Eurogroup having secured the release of the profits that eurozone central banks made as part of the SMP and ANFA programmes.
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EconomyMacroeconomy
Credit contraction at 0.2 pct in October, balance at 156.63 bln Credit contraction in the Greek market came to 0.2 percent in October from 0.5 percent in September, Bank of Greece (BoG) figures showed on Thursday.
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EconomyBanking
Piraeus Bank posts net profit of 44 mln in Q3 from continued operations Piraeus Bank’s third quarter (Q3) results revealed net results from continued operations showing a profit of 44 million euros compared to a net profit of 20 million in Q2 2019
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EconomyBanking
Eurobank net profits at 56.3 mln in Q3 from continued operations Eurobank recorded net profits of 56.3 million euros in the third quarter (Q3) of 2019, picking up strongly from profits of 9 million noted in Q2.
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EconomyBanking
NBG reports net profits of 171 mln in Q3, NPE’s fall on loan sales National Bank of Greece (NBG) reported a net profit of 171 million euros from continued operations in the third quarter (Q3) of 2019, compared to 122 million euros in Q2.
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EconomyBanking
Alpha Bank posts net profits of 4.7 mln in Q3 Alpha Bank reported net profits of 4.7 million euros for the third quarter (Q3) of 2019, falling sharply from net profits of 59.4 million euros in Q2.
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EconomyBanking![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF consultation report pinpoints health of Greek banks as central to growth In the Article IV consultation report that was published on Friday, the International Monetary Fund (IMF) took a detailed look into Greece’s banking sector, as the Fund has repeatedly stated that restoring Greek banks back to health is a prerequisite for the country to attract investment and achieve higher growth rates, while it remains an area of fiscal and wider financial stability risks.