Bank of Greece

Tax evasion in Greece exceeds 60 billion euros annually, Bank of Greece governor Yannis Stournaras said on Monday in an interview with news website in.gr.

Incomes officially declared in the country totaled 80 billion euros, while consumption totaled 140 billion euros, he said, adding that this consumption was not accompanied by a decline in savings, which in fact continued to rise.

A ghost from the past, the current account deficit, has come to the fore again, on the occasion of the European Commission's spring forecasts, which calculated it at an alarming 11.8% of GDP in 2022, but also the strong warning by Bank of Greece Governor Yannis Stournaras on this specific issue.

The election risk is perhaps the greatest challenge for the course of Greek economy, fiscal stability and the conquest of investment grade, in a year when international uncertainties are running high.

The burden of new nonperforming loans on Greek banks after the pandemic crisis is expected to come to 8-10 billion euros, relatively greater compared to that faced by other European credit institutions, Bank of Greece Governor Yannis Stournaras said on Friday.

Greek private sector bank deposits rose in November for the tenth month in a row, central bank data showed on Tuesday.

Business and household deposits increased to 158.7 billion euros ($194.93 billion) from 155.7 billion in October, Bank of Greece data showed.

National Bank of Greece (NBG) announced on Tuesday that it had entered into a definite agreement with Bain Capital Credit for the sale of a Romanian-risk corporate nonperforming exposures portfolio ("Project Danube") with a total gross book value of around 174 million euros.

Servicers are handling bad loans of 30.8 billion euros, Bank of Greece data showed on Tuesday, as the companies that have taken on banks' nonperforming loans increased their portfolios in the first quarter of the year by €7.3 billion.

Total credit in Greece's banking system expanded 0.7 percent year-on-year in March after a 1.0 percent decline in the previous month, Bank of Greece data showed on Friday.

[Reuters]

Greece has returned to budget deficits, instead of surpluses, due to the coronavirus pandemic, Bank of Greece data for the January-April period have shown, while the government is preparing to announce a new package of financial measures for the June-September period, probably on Wednesday.

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

Business and household deposits increased to 145.08 billion euros ($157.44 billion) from 142.24 billion in February, Bank of Greece data showed.