The overall weighted average interest rate on all new loans to households and non-financial corporations remained at 4.34 percent in December, unchanged from November, data from the Bank of Greece (BoG) showed on Tuesday.
Ahead of the EU’s stress tests and improving sentiment, Greece’s banks have begun making further inroads into their plans for reducing bad loans on their books.
The European Central Bank (ECB) announced last Friday the beginning of the stress test process for 2020, an EU-wide exercise that will be led by the European Banking Authority (EBA) and will examine 35 significant euro area banks, which are directly supervised by the ECB and cover 70 percent of banking sector assets in the eurozone.
Greece’s manufacturing PMI increased to 54.4 points in January from 53.9 points in December, according to the latest data from Markit PMI.
Greece’s retail sales index increased by 4.1 percent in November following a rise of 6.6 percent in October, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Greece’s economic sentiment (ESI) fell by 1 point in January to reach 108.4 points, European Commission (EC) figures showed on Thursday.
Credit contraction in the Greek market came to 0.5 percent in December from 0.2 percent in November, Bank of Greece (BoG) figures showed on Wednesday.
Net deposit movement in the Greek banking system were positive by 3.65 billion euros in December, following outflows of 179 million in November, Bank of Greece (BoG) figures revealed on Wednesday.
Greece had its most successful market test since it exited its third adjustment programme in August 2018, by issuing a new 15-year bond that attracted significant investor interest and a very attractive yield.
The budget primary balance was confirmed at a surplus of 5.02 billion euros across the twelve months of 2019, compared to a surplus of 91 million noted in December 2018, the final Finance Ministry (MoF) budget execution bulletin showed on Monday.