Economy
Developments in Greece produce volatile market reaction
The Greek stock market plunged 5.38 percent on Friday in the aftermath of the Eurogroup’s indication that it would support a precautionary credit line for Greece in the form of an Enhanced Conditions Credit Line (ECCL).
Eurobank reports loss of 186.6 mln in Q3
Eurobank reported a net loss of 186.6 million euros in the third quarter (Q3) from 301.1 million in Q2.
Greeks exports down by 8.7 pct in September as imports rise by 7.4 pct
Greece’s exports remained on a downward trend for the third straight month in September but the drop accelerated to 8.7 percent, according to the flash estimates of commercial transactions released by Hellenic Statistical Authority (ELSTAT) on Friday.
National Bank posts 9-month profits of 1.18 bln
National Bank (NBG) posted nine-month (9M) net profits of 1.18 billion euros, from 262 million last year, the lender announced on Thursday.
Alpha Bank nine-month profits at 110.3 mln, NPL ratio at 33.6 pct
Alpha Bank reported on Tuesday a nine-month (9M) net profit of 110.3 million euros from 3.13 billion last year.
European Commission says 2014 is a turning point for Greece as growth resumes
In its autumn economic forecast released today, the European Commission (EC) highlights that 2014 would be the turning point for Greece with the domestic economy turning to growth after six years of recession.
Greece sets out plans for settling SME NPLs; mortgages to come
The outgoing Development Minister Nikos Dendias presented on Monday the much anticipated legislation on the settlement of corporate non-performing loans (NPLs).
Slight uptick in October for Greek PMI, which remains in contraction
Although improving by 0.4 points, Greece’s Manufacturing PMI in October remained below the 50-point mark that separates growth from contraction for the fourth time in the last five months, according to Markit.
Greek retail turnover advanced for the third straight month, 4.5 pct in August
The turnover of Greece’s retail trade index grew for the third successive month at an accelerating pace of 4.5 percent in August after a 1.5 percent rise in July, according to the Hellenic Statistical Agency (ELSTAT).
Greek deposit and loan rates slide in September
The interest rate on households’ new time deposits slipped by 5 basis points (bps) to 2.08 percent in September, according to the Bank of Greece (BoG). This was the lowest month on month drop since March.