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Economy
BoG sees 7.5 pct recession, EU funds boosting GDP by 1.9 pct annually Speaking at an online event organised by a local think-tank, Bank of Greece governor Yannis Stournaras presented the central bank’s updated estimates regarding the impact of the pandemic on the economy.
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EconomyBanking
Banks remain largely profitable in Q2, with focus on NPL reductions Greece’s four systemic banks completed the second quarter of the year with relatively stable performance results amid the pandemic.
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EconomyBanking
Property e-auctions resume after pandemic hiatus as banks focus on NPLs Property e-auctions resumed last week after a six month hiatus due to the coronavirus pandemic as banks hoped to preserve prices for valuations.
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EconomyBanking
Eurobank net results show profit of 176 mln in H1 Eurobank recorded net results of an adjusted profit of 176 million euros in the first half (H1) of 2020 compared to net profits of 96.7 million in H1 2019.
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PoliticsGreek Politics
Insolvency code, 'second chance' for debtors unveiled as ND eyes social impact of crisis The government has unveiled the draft legislation that paves the way for Greece to adopt a new insolvency code and offer debtors a so-called “second chance” – a move that New Democracy hopes will stave off a major social impact resulting from the long economic crisis, as well as the knock-on effect of the more recent coronavirus pandemic.
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EconomyBanking
NBG results show net profits of 465 mln euros on strong income National Bank of Greece (NBG) reported a strong net profit of 465 million euros from continued operations in the fιrst half (H1) of 2020, compared to 245 million euros in H1 2019.
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EconomyBanking
Banks step up securitisation drive following pandemic interruption Having experienced a setback earlier in the year, when the pandemic broke out and led to reconfiguration of the plans on securitisations, Greek systemic banks are accelerating their efforts to catch up for lost time in restoring the health of their balance sheets.
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EconomyBanking
Piraeus Bank posts pre-tax losses of 215 mln in H1 Piraeus Bank’s first half (H1) results revealed pre-tax losses of 215 million euros compared to pre-tax profits of 57 million euros in the relevant period in 2019.
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EconomyMacroeconomy
Credit contraction in June comes to 0.4 pct Credit movement in the Greek private sector contracted by 0.4 percent in June after an increase of 0.7 percent in May, Bank of Greece (BoG) figures showed on Monday.
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Economy
Fitch keeps rating at 'BB', sees GDP contraction of 7.9 pct in 2020 Fitch re-affirmed Greece’s credit rating to ‘BB’ on Friday night, maintaining the stable outlook.