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Greek Banks

How Two Years of Capital Controls Hurt Greek Trade

It was June 27, 2015 when the finance minister at the time, Yanis Varoufakis, and the Greek government decided to impose capital controls in the midst of negotiations with creditors over the country's bailout. Two years ago on this date, Greek...

Greek Banks Have Adequate Capital to Fund Real Economy

Greek banks have adequate capital to fund the real economy, both business activity and the retail commerce sector, focusing on commercial credit, bank officials said. Greek banks are ready to channel liquidity in the market with the aim to contribute...

Greek Banks Make Some Progress in Tackling Bad Loans

Greek banks made progress in tackling bad loans in the first quarter, according to Bank of Greece data released on Tuesday. However, nonperforming corporate, housing and consumer loans accumulating during the crisis year continue to account for more than half of...

Greek Banks Writing-off More NPLs Due to Increase in Bad Loans in 2017

Bank sources have said that non-performing loans (NPLs) have grown as much as 2 billion euros since the beginning of 2017, ekathimerini.com reported. This growth in NPLs has left Greek banks in a position where they are now trying to write-off...

ECB Lowers ELA-Ceiling for Greek Banks by 100 Mln Euros

The European Central Bank on Thursday approved a request by the Bank of Greece to lower the ELA-ceiling for Greek banks by 100 million euros to 46.5 billion euros up to and including Wednesday, May 17, 2017. The Greek central...

ELA for Greek Banks Dropped 700 Mln Last Month

Greek banks lowered their borrowing from the ELA mechanism and the Eurosystem in March to 59.7 billion euros, from 61.9 billion in February, the Bank of Greece said on Tuesday. The central bank, in its monthly accounts said Greek banks’...

Greek Banks 'Lose' €750 Mln in Deposits in February Due to Economic Uncertainty

Greeks withdrew 750 million euros from their bank accounts in February, due to the uncertainty created over the stalled bailout program review negotiations, according to the Bank of Greece. The cash outflow is ongoing since late December 2016, after talks...

Greeks Withdraw €4 Bln in 2017 Amid Economic Uncertainty

Greeks withdrew 4 billion euros from banks since the beginning of the year amid the uncertainty generated by the stalling of negotiations om the bailout program review. At the end of 2016, total deposits of government, businesses and households in...

Greek Banking System Credit Contracts 1.4% y/y in January

Total credit in Greece's banking system contracted 1.4 percent year-on-year in January after shrinking by 1.0 percent in the previous month, Bank of Greece data showed on Wednesday. According to the country's central bank, credit extended to the government rose...

ECB's Nouy: Greek Banks Have Improved 'Noticeably and Substantially' in Past Two Years

There has been a significant improvement in the situation of Greek banks, both in terms of capital adequacy and governance, the European Central Bank (ECB) supervisory board chairwoman Danièle Nouy told the Athens-Macedonian News Agency (ANA) in an exclusive...