Latest News for: Greek banking

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Return to turbulent past of Greek politics could compromise path of progress

Ekathimerini 22 Jan 2022
We expect the Greek economy to grow around 8.9% in 2021 before slowing to 4.3% by 2022 ... Nevertheless, an outstanding high level of NPLs weighs on banking system profitability and Greek lenders’ capacities to fund a robust recovery. Piraeus, Alpha and the National Bank of Greece have taken important actions recently in improving capital ratios.
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Higher credit demand, fee-driven business could help lenders

Ekathimerini 22 Jan 2022
Notwithstanding the significant progress achieved recently, the asset quality of the major Greek banks continues to be relatively weak when compared to the European average ... The profitability of the Greek banking system remains weak, ...
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Burla, Dimon, and so many others

Ekathimerini 21 Jan 2022
The first news item was an interview with Jamie Dimon, chairman and chief executive officer of JPMorgan Chase, the largest investment bank in the world ... Similarly, Dimon isn’t the only big banker of Greek descent; he just happens to be the head of the largest bank in the world.
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Negative rates put on hold for now

Ekathimerini 21 Jan 2022
Greek banks are waiting before taking the option of imposing negative interest rates on corporate deposits, in order to see how the inflation situation develops and the attitude of the European Central Bank on its key interest rates.
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Greek Development Minister predicts at least 5% GDP growth in 2022

Greek City Times 21 Jan 2022
Greek Development and Investments Minister Adonis Georgiadis forecast that GDP growth in Greece will exceed 5 pct in 2022 ... Meanwhile, the Greek unemployment rate fell to 13.3% of the workforce in November 2021 from 16.1% in November 2020 and 13.4% in October 2021, Hellenic Statistical Authority said on Wednesday.
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Hellenic Cables wins another supply contract for 3.6-GW Dogger Bank

Renewables Now 20 Jan 2022
... Bank offshore wind farm project in UK waters. After previously securing orders for the Dogger Bank A and B phases, the Greek cable maker has now become the sole supplier of inter-array cables for massive 3.6-GW offshore wind development located off the north-east coast of England.
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ATHEX: Fresh rise for majority of stocks

Ekathimerini 19 Jan 2022
Greece’s new 10-year bond issue and the boost observed on foreign markets following statements that suggested the threat of a clash in Ukraine had diminished somewhat gave the Greek bourse an afternoon push that earned the benchmark some decent gains.
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Demand tight in Greece’s first 2022 market foray

Ekathimerini 19 Jan 2022
Greece received 11 billion euros of demand for a new 10-year bond sale on Wednesday, tapping the markets at a challenging time as the European Central Bank’s pandemic bond-buying stimulus scheme is set to end in March ...The environment is different than last year as a result of higher inflation and policy change from central banks.”.
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Greece to issue new 10-year bond

Ekathimerini 19 Jan 2022
The Public Debt Management Agency on Tuesday requested that six banks (Barclays, Commerzbank, Eurobank, Morgan Stanley, Nomura and Societe Generale) be the bookrunners of the issue that is aimed to draw some 3-3.5 billion euros, according to bank sources ... Danske Bank and DZ Bank.
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Greek unemployment rate falls to 13.3% in November 2021, new bond issue raises €11 billion

Greek City Times 19 Jan 2022
The Greek unemployment rate fell to 13.3% of the workforce in November 2021 from 16.1% in November 2020 and 13.4% in October 2021, Hellenic Statistical Authority said on Wednesday ... Greek clothing and textiles industry strongly recovers in 2021, report says ... Three Greek Americans Make Forbes’ 400 Wealthiest.
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Banks remain challenged by low structural profitability

Ekathimerini 18 Jan 2022
Our views on the Greek banking sector remain positive and we should expect rating upgrades from low levels in the near term ... of the sector will continue supporting the operating environment for Greek banks, despite risks from supply chain constraints and rising input costs.
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Still a eurozone outlier

Ekathimerini 17 Jan 2022
A high amount of nonperforming loans, albeit recent improvements, weak quality and level of capital, and limited earnings prospects continue to restrain Greek banks’ creditworthiness ... Still, we expect Greek banks’ asset quality metrics to remain weaker than the European Union average.
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Opportunities for banks to expand loan books

Ekathimerini 17 Jan 2022
Moody’s currently has a positive rating outlook for the four largest systemic Greek banks, in expectation of further improvements in their asset quality and underlying solvency ... Greek banks are currently aiming for an NPE ratio of around 5-6% by the end of 2022, while the average for large EU banks is closer to 2% as of June 2021.
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Fitch upgrades Greece's credit outlook to positive

Napa Valley Register 15 Jan 2022
Greek banks are a big reason for the upgrade, “sharply reducing the level of non-performing loansand enhancing their ability to provide credit to the real economy.”.
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Fitch upgrades Greece’s credit outlook to positive

The Associated Press 15 Jan 2022
In a report issued Friday, Fitch estimates that the Greek economy grew 8.3% in 2021, much faster than the 4.3% forecast in its previous rating review last July, although growth ... Greek banks are a big reason for the upgrade, “sharply reducing the level of non-performing loans...
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