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BoG highlights strong year for property in 2019 but warns of Covid-19 impact in 2020
EconomyFeaturesinvestment in the real estate market. BoG noted that the net inflow of funds for real estate... of granted residence permits in 2019. With the temporary closure of embassies around the world, this could mean fewer high net-worth Chinese investors visiting the country this year in connection
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April current account deficit at 1.34 bln as goods deficit grows
EconomyMacroeconomyand T-bills. A net increase in their liabilities for the month was mainly due to a 771-million-euro... drop in residents' holdings of foreign bonds and T-Bills. A net increase in liabilities was driven.... The BoG stated that the worsening of the goods balance deficit was attributable to a higher net oil
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Banks remain largely profitable in Q2, with focus on NPL reductions
EconomyBankingimpact of 324 million). Net profits in Q2 came to 82 million versus losses of 232 million in Q1... a net profit of 465 million euros from continued operations in H1, compared to 245 million euros in H1 2019. On a quarterly basis, net results showed a profit of 58 million euros in Q2, dropping by 86
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Net interest income soars by 47 pct in 2023 as Eurobank reports net profit of 1.14 bln
EconomyBankingEurobank posted an adjusted net profit of 1.26 billion euros in 2023, compared to a profit of 1.18 billion euros in the previous year, a rise of 6.6 percent. Net profit was 1.14 billion euros vs... was 86.4 percent, up by 10.9 percentage points. P&L Net interest income in 2023 increased by 46.9 percent
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Current account in surplus for 2nd straight month in June but down 20 pct on 2014
EconomyMacroeconomythat net payments for purchases of ships declined almost fully offsetting a rise in the net oil... to lower net receipts from transport and other services. In contrast, the travel surplus slightly... half primarily reflects lower net payments for purchases of ships and – to a lower extent – lower net
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Credit contraction accelerates to 1.5 pct in Dec, net lending flow remains subdued
EconomyMacroeconomy. The monthly flow remained subdued for the second straight month with net deductions of 28.7 million euros in December from net additions of 61.7 million in November. The modest negative flow in December reflects household and sole proprietors’ net deductions of 157 and 15 million respectively mitigated
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Credit contraction decelerates to 0.9 pct in April, net additions climb to 659 mln
EconomyMacroeconomyis the lowest rate of decline since April 2011. More importantly, the net lending flow stayed positive.... The April figure is the highest reading since June 2012, when net additions stood at 853 million. The positive flow in April is almost entirely attributed to corporate sector net additions of 763
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Piraeus Bank posts net profit of 44 mln in Q3 from continued operations
EconomyBankingPiraeus Bank’s third quarter (Q3) figures revealed net results from continued operations showing a profit of 44 million euros compared to a net profit of 20 million in Q2 2019. This marks a fifth consecutive quarter where net results have landed on a profit rather than loss. Net results overall
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Greek current account deficit widens by 32.4 pct in November despite services surplus
EconomyMacroeconomyin foreign bonds and T-Bills. For the 11-month period, the net result implies an outflow of 6 billion... government net receipts from the EU. In contrast, the services’ surplus rose by 128 million, while... in the trade deficit reflects higher net oil import bill largely offset by lower net payments
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Current account surplus at 407 mln in May - first positive balance since Sept 2014
EconomyMacroeconomymillion and in their holdings of foreign bonds and T-Bills by 267 million. In contrast, residents’ net... to lower net oil import bill largely on account of a temporary shutdown of Aspropyrgos refinery... 11.8 percent YoY. According to BoG, lower net payments for purchases of ships and lower net oil
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