Bank of Greece

National Bank of Greece (NBG) on Tuesday reported sharply lower net profit in the fourth quarter compared to July-to-September on the back of weaker trading and net interest income and higher provisions for impaired loans.

Bank of Greece Governor Yannis Stournatas on Monday said that he will be donating 50 percent of his salary over the next two months to help the state deal with the growing cost of fighting the novel coronavirus epidemic.

Greek private sector bank deposits rose in February after a drop in the previous month, central bank data showed on Thursday.

Business and household deposits increased to 142.24 billion euros ($155.62 billion) from 141.15 billion in January, Bank of Greece data showed.

Foreign analysts appear more pessimistic than the Bank of Greece's baseline scenario for 0 percent growth this year due to the coronavirus epidemic, saying a recession appears inevitable, especially in the first half of the year, mainly due to tourism.

The first warning signal for the property market came on Friday from the Bank of Greece, in the midst of the coronavirus epidemic. BoG analysts say that the uncertainty regarding the broader consequences on the domestic and global economy are creating new conditions, with possibly significant effects on the real estate market, at least in the short term.

Greek banks' 2020 reduction target for nonperforming loans is about to be revised, due to the extraordinary conditions and the major uncertainty caused by the coronavirus epidemic, Bank of Greece Governor Yannis Stournaras noted in a report published on Friday.

The Bank of Greece's baseline scenario for 2020 is zero growth, compared with its previous estimate for 2.4 percent, according to a report released by Governor Yannis Stournaras on Friday.

Greece's current account deficit widened in January compared with the same month a year earlier, the Bank of Greece said on Friday.

Central bank data showed the deficit was 1.29 billion euros ($1.39 billion) from a deficit of 1.18 billion euros in January 2019.

[Reuters]

A law amendment of the Labor Ministry that was approved by Parliament on Thursday has given a significant boost, worth 200 million euros, to the financial results of National Bank of Greece.

The Hellenic Bank Association on Tuesday offered companies hurt by the spread of the coronavirus a six-month suspension of their corporate loan repayments, with an emphasis on the sectors of tourism, transport, food service and retail commerce.