Economy
Piraeus Bank’s bottom line turns profitable with 20 mln net profits in Q2
Piraeus Bank turned net losses of 37 million euros in the first quarter (Q1) of 2016 to profits of 20 million in Q2, which include a one-off trading gain of 77 million from the acquisition of Visa Europe from Visa Inc.
Motor Oil Hellas gross H1 profits fall 11.1 pct
The H1 2016 results for Motor Oil Hellas show that the group’s turnover fell by 27.4 percent in the first half of the year compared to the same period in 2015.
Economic sentiment rises to 92.5 pts in Aug, consumer confidence edges down for second straight month
Greece’s economic sentiment (ESI) increased for the second straight month in August, when it increased by 1.6 points, following a rise by 1.2 points in July, the European Commission (EC) figures showed on Thursday.
Q2 GDP rebounds 0.2 pct QoQ but shrinks 0.9 pct YoY amid consumption drop and investment rise
The Greek seasonally adjusted (SA) GDP at constant prices increased by 0.2 percent quarter on quarter (QoQ) in the second quarter (Q2) of 2016 after a revised drop of 0.2 percent in Q1, the Hellenic Statistical Authority (ELSTAT) provisional estimates displayed on Monday.
Credit contraction slows to 1.6 pct in July, loan deductions jump to 638 mln
Credit contraction in the Greek banking market decelerated to 1.6 percent in July from 2 percent in June, Bank of Greece (BoG) figures showed on Friday.
Greek stocks edge up 0.7 pct on week, banks rise 3.8 pct for first time in last six weeks
The Greek equity market gained 0.7 percent this week, after losses of 2.6 percent recorded in the previous week, but trading volumes remained extremely subdued.
Deposit flow turns negative, outflows of 153 mln in July
Deposit outflows of 153 million were recorded in the Greek banking market after inflows of 1.07 billion in the previous month, Bank of Greece (BoG) figures displayed on Friday.
Budget primary surplus reaches 3.6 bln in 7-month, monthly revenues miss target in July
Greece’s budget primary surplus fell by 4.4 percent to 3.55 billion in the 7-month period of 2016 from 3.71 billion last year, the Finance Ministry (MoF) final budget execution bulletin displayed on Friday. Preliminary figures were released on August 16.
Hellenic Petroleum adjusted net income improves by 17 pct to 108 mln in H1
Greece’s largest oil refiner, Hellenic Petroleum, has posted strong results both for Q2 and H1 2016.
Rise in number of Greeks insured in 2015 but average salary edges down
Annual data from the Social Security Institute (IKA), the largest main pension fund in Greece, showed the number of insured individuals increased by more than 100,000 or 5.9 percent to 1.8 million at the end of 2015 from 1.7 million a year ago.