Economy
Banks remain largely profitable in Q2, with focus on NPL reductions
Greece’s four systemic banks completed the second quarter of the year with relatively stable performance results amid the pandemic.
Property e-auctions resume after pandemic hiatus as banks focus on NPLs
Property e-auctions resumed last week after a six month hiatus due to the coronavirus pandemic as banks hoped to preserve prices for valuations.
Trade deficit falls by 17.1 pct in July
Greece’s trade deficit fell by 17.1 percent year-on-year (YoY) in July compared to a drop of 10.3 percent in June, data from the Hellenic Statistical Authority (ELSTAT) released on Monday showed.
General govt primary cash deficit of 7.46 bln in June, arrears drop by 10 mln
Greece’s general government (gg) primary cash deficit came to 7.46 billion euros in the first seven months of the year compared to a surplus of 1.87 billion in the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
H1 results for Greek corporates show signs of pandemic biting
Greece’s largest power company, the majority state-owned Public Power Corporation’s (PPC) first half (H1) results for 2020 revealed that revenue fell by 2.4 percent during the quarter.
GDP falls by 14 pct QoQ in Q2 and by 15.2 pct YoY to reach historic low
Greece’s seasonally adjusted (SA) GDP fell by 14 percent quarter-on-quarter (QoQ) in the second quarter (Q2) of 2020 after a revised decrease of 0.7 percent in Q1 2020, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Thursday.
Greece draws strong interest, attractive yield by re-opening 10-year bond
Greece completed on Wednesday the fourth market foray of the year by reopening the 10-year GGB that it had issued in June, after a successful syndication earlier in the summer and a strong performance in the secondary market.
Eurobank net results show profit of 176 mln in H1
Eurobank recorded net results of an adjusted profit of 176 million euros in the first half (H1) of 2020 compared to net profits of 96.7 million in H1 2019.
Data shows export market shake-up amid pandemic
Greece’s exports have been impacted by the pandemic, though not all markets were hit in the same way according to the latest data.
PMI edges up to 49.4 points in August, employment rises
Greece’s manufacturing PMI increased slightly to 49.4 points in August compared to 48.6 points in July, according to the latest data from Markit.