Bank of Greece

National Bank of Greece (NBG) on Tuesday announced profits of 1.2 billion euros in 2023, driven mainly by interest rates. Net interest income jumped by 65% year-on-year.

The European Central Bank won't have enough information to decide on interest-rate cuts until June, even as inflation seems to be on track to reach the 2% target this year, Bank of Greece chief Yannis Stournaras has said.

Speaking to Bloomberg, he said that the "recent set of data suggests we will reach 2% in the autumn of this year."

The leading position of real estate in foreign direct investment (FDI) in Greece remained and even strengthened in 2023, as the figures show, maintaining the reflection as to whether and how the country's production model will eventually be able to change.

The chairs of the Single Resolution Board (SRB) Dominique Laboureix and the Supervisory Board of the European Central Bank (SSM) Claudia Buch are in Athens on a two-day visit on Thursday and Friday.

The heads of the two European institutions met on Thursday with Bank of Greece Governor Yannis Stournaras and top executives of the BoG.

According to data from the union of loan and credit management companies (servicers), out of the total of 86 billion euros, the arrangements that have been made to date concern €25.5 billion and of these the arrangements that are being adhered to do not exceed €19 billion.

The Greek central bank is set to trim its growth outlook for next year significantly in its upcoming December forecasts.

Bank of Greece Governor Yannis Stournaras told Politico that his institution now expects the Greek economy to expand 2.4% this year, and by 2.5% in each of the two subsequent years.

Greeks spend €40 billion more than they declare as income, Bank of Greece governor Yannis Stournaras told the 19th annual Tax Forum of the American-Hellenic Chamber of Commerce Tuesday.

Expectations of a de-escalation in inflation, especially food prices, which concern most people, are clearly diminishing, since production costs, but also profiteering, are set to add another round of price hikes.

Interest rates on business loans dropped in June, while consumer loans and mortgages became more expensive, Bank of Greece data show.

Greek private sector bank deposits rose for the second month in a row in June, central bank data showed on Wednesday.

Business and household bank deposits rose to 189.3 billion euros at the end of June from €186.4 billion at the end of May, Bank of Greece data showed.

Greek banks' deposit inflows have been rising since the lifting of Covid restrictions last year.