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EconomyBanking
Alpha Bank posts loss of 94.1 mln in Q1 Alpha Bank, the third largest Greek bank by total assets, posted a Q1 net loss of 94.1 million euros from profit of 230.4 million last year.
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EconomyBanking
National Bank starts 2014 posting net profit of 181 mln in Q1 National Bank was the second Greek bank after Eurobank, which published Q1 results on May 28. Net profit landed at 181 million from 27 million last year mainly reflecting soaring pre-provision income (up 25 percent) and receding impairment losses (down 15 percent).
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EconomyBanking
Eurobank records net loss of 207.4 mln in Q1 Eurobank kicked off Greek banks’ Q1 results releases posting a net loss of 207.4 million euros in Q1 2014 from 913.1 in Q4 2013.
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EconomyMacroeconomy
Greek credit contracts again in April but at slightly lower rate of 3.7 pct The year on year (YoY) credit contraction in the Greek market decelerated to 3.7 percent in April from 4.1 percent in March, with balances easing to 215.14 billion euros, according to the Bank of Greece (BoG).
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EconomyMacroeconomy
Greek deposits edge up for second month in April, reach 161.3 bln Greek private sector deposits increased 0.2 percent month on month (MoM) in April, with balances reaching 161.3 billion euros, according to the Bank of Greece (BoG).
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EconomyMacroeconomy
Fitch upgrades Greek credit rating to B with stable outlook As previously rumoured, Fitch upgraded on Friday Greece’s rating by one notch to ‘B’ from ‘B-‘ with a stable outlook, yet still remaining in the non-investment grade.
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Economy
Bond issued for capital support of Greek banks in 2009 reaches maturity In late 2008, amid the US subprime crisis and 1.5 years before the signing of the first Memorandum of Understanding with the troika, the Greek government passed a bank liquidity and capital support bill (Law 3723/2008).
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EconomyBanking
Piraeus snaps up share in MIG to complete series of corporate moves Piraeus Bank announced on May 14 its third major corporate development in the last two months, following the successful completion of a 1.75-billion- euro capital increase in late March and a senior unsecured bond issue of 500 million in mid-March.
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EconomyMacroeconomy April saw first rise in Greek banks' Eurosystem funding this year Greek banks’ Eurosystem funding increased by 1.27 billion in April, showing a monthly rise for the first time since December 2013, according to the Bank of Greece's (BoG) monthly financial statement.
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Economy Moody's upgrades Greek banks to stable, sees NPLs peaking at 37 pct this year Moody’s upgraded on Tuesday its outlook on Greek banks to stable from negative, reflecting its expectations for an economic recovery in 2014-15 after six years of recession.