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Banking
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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.
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EconomyMacroeconomy
Credit contracts by 4.1 pct in March, loans down by 3.4 pct The year on year (YoY) credit contraction in the Greek market slightly accelerated to 4.1 percent in March from 4 percent in the preceding two months, with balances reaching 215.88 billion euros, according to the BoG.
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EconomyMacroeconomy
Slight rise in deposits for March but outflows at 2.2 bln for 2014 Greek private sector deposits rose 0.3 percent month on month (MoM) in March, with balances reaching 161.05 billion euros, according to the Bank of Greece (BoG).
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EconomyBanking National Bank follows other Greek lenders' by opting for capital increase As had been rumoured, National Bank of Greece’s board (NBG) decided on April 16 to call an Extraordinary General Meeting for May 10 to approve a capital increase of up to 2.5 billion euros.
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EconomyBanking
Eurobank gears up for crucial but contentious capital increase Eurobank, Greece’s fourth largest lender, is preparing to carry out before the end of this month a share capital increase that will ensure its capital adequacy but which has many opponents due to the controversial nature of the method that has been chosen.
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EconomyMacroeconomy Greek banks' Eurosystem funding falls for third straight month, at lowest since Feb 2010 Greek banks’ Eurosystem funding dropped in March at the fastest pace since May 2013. It fell by 7.3 billion in what was the third successive month that funding declined, according to the Bank of Greece's (BoG) monthly financial statement.
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EconomyBanking
Bank framework paves way for Eurobank capital increase, gives HFSF flexibility Alpha and Piraeus banks successfully completed at the beginning of the week their capital increases of 1.2 and 1.75 billion respectively via private placements conducted through book-building processes with foreign investors.
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EconomyMacroeconomy
Greek deposits down 0.3 pct in Feb, credit contraction stable Greek private sector deposits fell 0.3 percent month on month (MoM) in February, with balances reaching 160.54 billion euros, according to the Bank of Greece (BoG).