Economy
BoG runs numbers to show how tackling NPE stock will benefit banks' bottom line
In the financial stability report it issued last week, the Bank of Greece (BoG) emphasised the need for banks to reduce significantly the stock of non-performing exposures (NPE) and improve the composition of their capital base, 60 percent of which consists of deferred tax credits (DTC) and inhibits the systemic credit institutions.
Car sales rise by 12.5 pct in November
Road motor vehicles going into circulation for the first time rose by 12.5 percent in November, compared to a rise of 5.3 percent in October, Hellenic Statistical Authority (ELSTAT) data showed on Monday.
Turnover in tourism sector rises by 6.1 pct in Q3
The turnover index in accommodation and food services rose by 6.1 percent year-on-year (YoY) in the third quarter (Q3), reversing a revised reading of 1.7 percent in Q2, Hellenic Statistical Authority (ELSTAT) figures showed on Monday.
Employment balance negative by 30,559 in November
The employment balance remained negative in November with 30,559 more firings than hirings, data from the Labour Ministry’s Ergani information system showed.
General govt primary cash surplus at 7.50 bln in October, arrears fall by 54 mln
Greece’s general government (gg) primary cash surplus came to 7.50 billion euros in the first ten months of the year, up by 773 million euros compared to the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
BoG urges banks to improve quality of capital, re-doubles SPV efforts
In its latest financial stability report published on Thursday, the Bank of Greece (BoG) took stock of the various positive developments and encouraging signs for the economy and banking sector, while highlighting the challenges for systemic local banks, emanating from the quality of the loan portfolio and the composition of the capital structure that largely constitutes of deferred tax credits (DTC).
Trade deficit drops by 5.4 pct in October as both imports and exports fall
Greece’s trade deficit fell by 5.4 percent year-on-year (YoY) in October compared to a fall of 2.3 percent in September, data from the Hellenic Statistical Authority (ELSTAT) released on Friday showed.
GDP rises by 0.6 pct QoQ in Q3, increases by 2.3 pct YoY
Greece’s seasonally adjusted (SA) GDP increased by 0.6 percent quarter-on-quarter (QoQ) in the third quarter (Q3) of 2019 after a revised increase of 1.3 percent in Q2, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Thursday.
Eurogroup approves SMP and ANFA profit release, decision on investment use postponed
The Greek authorities left yesterday’s Eurogroup having secured the release of the profits that eurozone central banks made as part of the SMP and ANFA programmes.
Overall loan interest drops to 4.32 pct in October
The overall weighted average interest rate on all new loans to households and non-financial corporations came to 4.32 percent in October, down by 27 basis points (bps) from the rate of 4.59 noted in September, data from the Bank of Greece (BoG) showed on Wednesday.