Economy
General govt primary cash surplus at 4.10 bln in seven-month, arrears rise to 5.44 bln
Greece’s general government (gg) primary cash surplus came to 4.10 billion in the first seven months of the year according to the Finance Ministry’s (MoF) gg bulletin.
Hellenic Petroleum reports net income rise of 62 pct in H1
Greece’s largest oil refiner, Hellenic Petroleum’s financial results for the first half (H1) of the year show that the group’s sales rose by 39 percent during the first six months of the year.
Alpha Bank remains profitable in Q2, NPEs reduced further
Alpha Bank’s reported net profit stood at 1 million in the second quarter (Q2) of 2017 including profits of 71 million from continued operations offset by losses of 68.5 million from discontinued operations, mainly related to recycling of FX differences following the sale of its subsidiary in Serbia.
GDP rises by 0.5 pct in Q2 as signs of recovery emerge
Greece’s seasonally adjusted (SA) GDP grew by 0.5 percent quarter-on-quarter (QoQ) in the second quarter (Q2) of 2017, after an upwards revised increase of 0.5 percent in the previous quarter, the Hellenic Statistical Authority (ELSTAT) provisional estimates revealed on Friday.
PMI climbs to 52.2 in Aug, highest for nine years
Greece’s Manufacturing PMI rose by 1.7 points in August, reaching 52.2 from 50.5 in July, marking the third successive improvement for the sector and the highest headline PMI reading since August 2008.
NBG reports net losses in Q2, NPEs down for fifth straight quarter
National Bank of Greece (NBG) reported net losses of 13 million euros in the second quarter (Q2) of 2017 reversing the profits of 13 million in Q1, which resulted in a break-even bottom-line result for the first half (H1) of the year.
Drop in apartment prices continues with slower decline of 1.2 pct in Q2
The nominal value of apartments in Greece fell at a slower pace of 1.2 percent year-on-year (YoY) in the second quarter (Q2) of 2017, following a downwards revised drop of 1.7 percent in Q1 2017, Bank of Greece (BoG) data showed on Thursday.
Retail sales up by 3.2 pct in June for sixth straight rise
Greece’s retail sales increased by 3.2 percent on an annual basis in June after a marginal 0.4 percent rise in May, according to data published by the Hellenic Statistical Agency (ELSTAT) on Thursday.
Piraeus posts 7 mln net profit in Q2, NPE stock down for seventh straight quarter
Piraeus Bank reversed its first-quarter (Q1) net losses of 7 million to profit of 7 million in Q2, resulting in a break-even bottom-line result in the first half (H1) of 2017.
Eurobank records 40 mln net profits in Q2 and third quarter of negative NPE formation
Eurobank remained profitable in the second quarter (Q2) of 2017, with net profits slightly increasing to 39.7 million euros Q2 from 36.5 million in the previous quarter.