Economy
Eurobank to merge with Grivalia Properties and create SPV to cut bad loans
One of Greece’s four systemic banks, Eurobank, has announced shortly after releasing its third-quarter results that the bank is forming its own special purpose vehicle (SPV) for handling its pile of bad loans.
Grivalia Properties net profits rise by 16 percent in 9M results
Grivalia Properties’ results for the nine-month (9M) period of 2018 showed that revenues increased by 5.4 percent during the period.
BoG provides details of ambitious plans to slash NPLs via SPV
In the overview of the Greek financial system that was published late on Thursday, the Bank of Greece (BoG) outlines its proposal for the systemic management of non-performing exposures (NPEs).
Eurobank net profits of at 45.1 mln in Q3, NPEs under 40 pct for first time
Eurobank recorded net profits of 45.1 million euros in the third quarter (Q3) of 2018 compared to profits of 1.1 million in the previous quarter.
Final budget for 2019 excludes pension cuts, includes 910 mln in expansionary measures
Following the formal approval by the European Commission on Wednesday as part of the European semester, the Finance Ministry tabled to Parliament the final budget for 2019.
European Commission approves 2019 budget, urges focus to meet end of year reform goals
As part of the European semester package, the European Commission issued on Wednesday the first report for Greece under the enhanced surveillance framework that came into effect following the conclusion of the European Stability Mechanism (ESM) programme last August.
Travel balance rises by 0.8 pct in September and 9.1 pct in 9M
Greece’s travel balance edged up by 0.8 percent in September, following a 1.4 percent rise in August, Bank of Greece (BoG) data revealed on Wednesday.
OECD sees 2.2 pct growth in 2019, stressing importance of reform adherence
The Organisation for Economic Co-operation and Development (OECD) issued its expectations for how the Greek economy will grow in the near future with the release of its economic outlook, and stressed the importance of Greece sticking to its reform programmes.
Fourlis Group net profits rise to 7.6 million in 9M
Fourlis Group has reported an increase in sales of 3.8 percent in their nine month (9M) results for 2018.
September current account surplus at 550.8 mln as goods deficit increases
Greece’s current account (C/A) balance recorded a surplus of 550.8 million euros in September, dropping from the figure of 1.56 billion noted in August, Bank of Greece (BoG) figures showed on Tuesday.