Piraeus Bank concluded the first quarter (Q1) reporting season for Greek banks by posting a net loss of 247 million from 700 million in Q4.
The turnover of Greece’s retail trade index fell by 3.4 percent year on year (YoY) in March, from a revised -1.9 percent posted in February, according to the Hellenic Statistical Agency (ELSTAT).
Alpha Bank, the third largest Greek bank by total assets, posted a Q1 net loss of 94.1 million euros from profit of 230.4 million last year.
The Association of Greek Tourism Enterprises (SETE) increased on Wednesday its estimate for international tourist arrivals in 2014 to 19 million from 18.5 million.
National Bank was the second Greek bank after Eurobank, which published Q1 results on May 28. Net profit landed at 181 million from 27 million last year mainly reflecting soaring pre-provision income (up 25 percent) and receding impairment losses (down 15 percent).
Eurobank kicked off Greek banks’ Q1 results releases posting a net loss of 207.4 million euros in Q1 2014 from 913.1 in Q4 2013.
The year on year (YoY) credit contraction in the Greek market decelerated to 3.7 percent in April from 4.1 percent in March, with balances easing to 215.14 billion euros, according to the Bank of Greece (BoG).
Greek private sector deposits increased 0.2 percent month on month (MoM) in April, with balances reaching 161.3 billion euros, according to the Bank of Greece (BoG).
Greece’s economic sentiment improved by 3.7 points to 99.1 in May, after falling by 2.1 points in April, according to the European Commission (EC).
Greece’s highest administrative court has blocked the sale of the Athens water company, raising new questions about whether the government can meet its revised privatisation targets.