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NBG's NII jumps 75 pct to 1.05 bln in H1
EconomyBanking2023, from 54.29 billion euros in H1 2022. Gross loans were 36.4 billion euros in H1 with NBG’s loan to deposits ratio coming to 57 percent, from 58 percent in H1 2022. NBG’s participation in the ECB’s TLTRO facilities dropped to just 1.9 billion euros, with another 3.1 billion euros drop from
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Industrial production drops for first time in 2023, down 3.6 pct in June
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) contracted in June, falling by 3.6 percent year-on-year... of 2023, with June’s print being the first negative reading since December 2022. This takes the growth... in water supply and 0.2 percent in electricity supply. According to the European Commission’s latest
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Industrial turnover drops by 10.2 pct in Jul, driven by foreign markets and manufacturing
EconomyMacroeconomyGreece’s industrial turnover remained in contraction in July, dropping by 10.2 percent year-on-year... base effects in this year’s numbers. Manufacturing revenue was down by 10.3 percent, with the mining..., the domestic market was up by 6.2 percent while the foreign markets were also up by 6.2 percent. Greece’s
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Tension peaks as SYRIZA candidates enter last stages of contest
PoliticsGreek PoliticsSYRIZA’s leadership race is heading for a tense finish, which suggests whoever wins on Sunday... simply by her first name. The back-and-forth between the two candidates prompted SYRIZA’s party... the favourite for Sunday’s vote made a couple of slip-ups when discussing so-called “national issues
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Unemployment rate remains lodged near 11 pct after no change in Aug
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate was unchanged in August, landing at 10.9... the Labour Ministry’s Ergani database showed that Greece’s employment balance in July turned negative... million departures. This year’s balance to July is a record. The previous high was the seven-month
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Industrial turnover records five months of contraction after 6.2 pct drop in Aug
EconomyMacroeconomyGreece’s industrial turnover remained in contraction in August, dropping by 6.2 percent year... by 42.5 percent YoY, hence some base effects in this year’s rates. Manufacturing revenue was down by 6.1... also down by 5 percent. Greece’s Manufacturing PMI remained in expansion territory in September
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S&P awards investment grade, bringing arduous cycle for economy to a close
Economyaccepted by the ECB. Also last month, Moody’s upgraded Greece just a notch from investment grade, bringing it in line with the other two main rating agencies. S&P notes that Greece’s public finances... enhance the economy’s competitiveness. The full deployment of the RRF resources will have a key role
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NBG's NII rises by 73 pct to 1.64 bln in 9M
EconomyBankingeuros in 9M 2022. Gross loans were 36.42 billion euros in 9M with NBG’s loan to deposits ratio coming to 57 percent, unchanged from 9M 2022. NBG’s participation in the ECB’s TLTRO facilities dropped... was 11.6 billion euros in 9M last year. The cost of risk stands at 66 points, in line with the bank’s
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Industrial production returns to growth of 2 pct in September
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) returned in positive territory in September, reversing.... The index had been growing in the first five months of 2023, with June’s print being the first... in electricity supply and by 2.1 pct drop in water supply. According to the European Commission’s latest
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Industrial turnover contracts for six months on bounce in Sep with 5.1 pct drop
EconomyMacroeconomyGreece’s industrial turnover remained in contraction in September, dropping by 5.1 percent year... by 23.7 percent YoY, hence some base effects in this year’s rates. Manufacturing revenue was down... by 10.1 percent. Greece’s Manufacturing PMI remained in expansion territory in October, rising
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