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NPLs
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EconomyBanking
Bank of Greece report overviews lenders' profitability, urges drastic NPL management The Bank of Greece (BoG) published on Tuesday an overview of the Greek financial sector, providing an update on the key developments and data over the past five years regarding banks’ profitability, loan quality and cards’ transactions.
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EconomyMacroeconomy
Stournaras eyes easing of capital controls, updates on loan quality and NPL reduction targets Appearing before Parliament’s economic affairs committee on Monday Bank of Greece (BoG) Governor Yannis Stournaras presented the organisation’s monetary policy report, which was released a month ago, and provided an update on Greek banks’ loan quality as well as unveiling a series of proposals for easing capital controls
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EconomyMacroeconomy BoG cautions on impact of tax rises, updates on rising NPEs In its monetary policy report released on Wednesday, the Bank of Greece (BoG) says that it expects the completion of the first programme review will restore confidence, boost liquidity and improve the investment environment in the second half of the year, while a marginal recession of 0.3 percent is foreseen for 2016.
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EconomyBanking
Piraeus reports net loss of 37 mln in Q1, records negative NPL formation for first time since 2008 Piraeus Bank posted a net loss of 37 million euros in the first quarter (Q1) of 2016 from 1.24 billion in the previous quarter, primarily burdened by exceptionally high loan provisions, and 67 million a year ago.
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EconomyProgramme
New rules on sale of NPLs come into play after approval of omnibus bill The multi-bill approved by Parliament on Sunday evening details, among others, the legal framework for the management and sale of performing or non-performing loans (NPLs).
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EconomyBanking
Alpha, Eurobank sign agreement with KKR for management of NPLs In a joint press release, Alpha and Eurobank announced on Tuesday that they have reached a binding agreement with KKR Credit for the management of credit and equity exposures to a number of selected Greek corporates into a platform managed by Pillarstone.
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EconomyProgramme
Compromise emerges on liberalisation of NPL market Beyond the convergence between Greece and its lenders on the basic package of austerity measures worth 3 percent of GDP, the government and the institutions appear to have clinched an agreement on the sale of non-performing loan (NPLs).
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EconomyProgramme
EU and IMF bailout drafts confirm conditionality as well as differences on primary surplus Two separate draft documents for the conclusion of the ongoing review were published over the weekend in the Greek media that demonstrate broad convergence in the overall conditionality between the eurozone institutions and the International Monetary Fund on the key policy measures and actions.
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EconomyProgramme
Athens and creditors edge closer on tax and pensions but gap remains on NPLs Following Thursday’s meeting between Labour Minister Giorgos Katrougalos and mission chiefs, the former appeared optimistic that an agreement on pension reform could be clinched by Saturday.
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EconomyProgramme
Greece and lenders seen making progress on privatisation fund but not on NPLs Although considerable gaps still exist between the mission chiefs and the government on the key issues of fiscal and tax measures as well as pension reform, progress has been reportedly made on the new privatisation fund.