Government Reshuffling; Our thoughts
The Greek government announced a large-scale cabinet reshuffling, with 24 members keeping their posts…to access this report contact@researchgreece.com
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Greek Trends & Trivia: OPAP VLTs / Aegean 3Q16
OPAP will be re-starting the VLT project while Aegean could be up for another profit warning…
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Greece: Not There Yet
We remain structurally negative; Greece does not ‘own’ the adjustment program, debt relief is not in sight, banks are struggling with NPES, GDP cannot grow more than +1.5% p.a.; we single-out three (3) cash flow/dividend yield stories and rate as OI.
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Greek Banks: 2019 NPE Targets Dominated by Restructurings
The basic scenario endorsed by BoG/Banks/SSM is -40%/E42bn lower NPEs by 2019, dominated by re-performing initiatives (80-85%). Our exercise shows this would be totally manageable by GR banks capital-wise. Still, we doubt quarterly NPE targets will be met…
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Titan Cement – Remains DOI
Remains DOI on limited share upside potential – we met with management and we…to access this report contact@researchgreece.com