Economy
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.
Apartment prices drop by 2.7 pct in Q2, slowest rate since Q1 2010
Apartment prices in Greece continued heading south, but at a decelerating pace, for the third successive quarter in Q2 of 2016, when they dropped by 2.7 percent from a revised 4.7 percent decline in Q1, Bank of Greece (BoG) data displayed on Thursday.
Rescue plan for Marinopoulos set for approval by banks
The Board of Directors (BoD) of two Greek core banks, Alpha and Eurobank, have reportedly approved the restructuring plan of Marinopoulos, Greece’s largest supermarket, which had been submitted by the strategic investor, Sklavenitis, one of the biggest Greek supermarket chains.
Lower bad loan provisions and increased write-offs for Greek banks in Q2
Ahead of the release of Greek banks’ second quarter (Q2) results, which are due next week, the aggregate balance-sheet figures published by the Bank of Greece (BoG) provide some colour on the evolution of bad loan provisions and write-offs during Q2.
Central government debt climbs to 328.3 bln in Q2 on bailout tranche of 7.5 bln
Greece’s central government debt increased by 7.33 billion euros to 328.34 billion in the second quarter (Q2) of 2016 from 321.01 billion in the previous quarter, according to the Finance Ministry (MoF) debt bulletin.