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Piraeus Bank seals milestone deal with KKR over 1.2 bln of non-core assets
EconomyBankingIn an unusual move by the standards of the Greek banking sector, Piraeus Bank has announced an agreement with leading global investment firm KKR for the transfer and securitisation of 1.2 billion of non-core assets to a new structure managed and controlled by KKR Credit and serviced by Piraeus.
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Bank of Greece sees growth at 0.7 pct in 2014, NPLs up to 34.1 pct
EconomyMacroeconomyThe Bank of Greece (BoG) expects GDP to expand by 0.7 percent in 2014 and further by 2.5 percent in 2015, according to the 2014 Interim Monetary Policy report.
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Greek banks' Eurosystem funding rises again in November, up by 1 bln
EconomyMacroeconomyGreek banks’ Eurosystem funding increased for the second straight month in November, when it rose by 1 billion euros, according to the Bank of Greece's (BoG) monthly financial statement on Wednesday.
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What are SYRIZA's plans for Greek banks if it comes to power?
EconomyThe possibility of the government failing to elect a president and subsequent snap elections leading to the formation of a SYRIZA or SYRIZA-led government has brought the leftist party's plans for Greek banks into sharp focus.
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Greek loan rates remained well above euro area average in October
EconomyMacroeconomyThe interest rate on households’ new time deposits was further reduced by 14 basis points (bps) to 1.94 percent in October, according to the Bank of Greece (BoG). This was the first reading below the 2-percent mark since Greece’s accession in the eurozone in 2002.
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Greek deposits down 0.2 pct in October after seven months of rises
EconomyMacroeconomyFollowing a rise in the preceding seven months, Greek private sector deposits fell by 0.2 percent month on month (MoM) in October. Balances reached 164.5 billion euros, according to the Bank of Greece (BoG).
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Credit down by 3.2 pct in Oct for lowest contraction since Dec 2011
EconomyMacroeconomyThe rate of credit contraction in Greece decelerated to 3.2 percent in October from 3.5 percent in September, according to the Bank of Greece (BoG). This was the lowest negative reading since December 2011.
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Piraeus Bank posts net loss of 1.56 bln in Q3
EconomyBankingPiraeus Bank posted a net loss of 1.56 billion euros in the third quarter (Q3) of 2014 from a profit of 164.3 million in Q2, according to results published late on Tuesday.
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Greek banks' Eurosystem funding rises by 1.28 bln in October after five-month fall
EconomyMacroeconomyFollowing a drop in the preceding five months, Greek banks’ Eurosystem funding rose by 1.28 billion euros in October, according to the Bank of Greece's (BoG) monthly financial statement.
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Eurobank reports loss of 186.6 mln in Q3
EconomyBankingEurobank reported a net loss of 186.6 million euros in the third quarter (Q3) from 301.1 million in Q2.