Bank of Greece

Dimitris Pikrodimitris took out a mortgage four years ago when he was drawing an annual income of €27,000 ($36,720).

But the economy quickly sank into a debt crisis, forcing Greeks to tighten their belts and driving the insurance agent’s wages down to just €6,500 last year.

Total credit in Greece shrank 5 percent year-on-year in May, with the pace of decline accelerating from the previous month, Bank of Greece data showed on Thursday.

Credit extended to the government fell 14.9 percent after shrinking by 4.5 percent in April, the central bank said.

As troika envoys held talks with a series of ministers on Friday to assess Greece's progress in enforcing economic reforms, Prime Minister Antonis Samaras called a meeting at the Maximos Mansion with his coalition partner Evangelos Venizelos as well as Finance Minister Gikas Hardouvelis and the latter's predecessor Yannis Stournaras who is now Governor of the Bank of Greece.

House prices in Greece posted the steepest decline in the eurozone during the first quarter of the year, as a comparison of data compiled by the Bank of Greece with figures published on Thursday by Eurostat indicates.
According to the country’s central ba... ...

By Stathis Kousounis

Total travel receipts in Greece posted a 17.3 percent increase in the first quarter of the year compared with the same period in 2013, according to data released by the Bank of Greece.

The total came to 471.4 million euros, while the number of visitors from abroad expanded by 15.4 percent to 1.3 million tourists.

 NBG looks set to boost its assets by 400 mln euros and its capital adequacy ratio by 70 basis points

By Yiannis Papadoyiannis

National Bank of Greece is proceeding with the absorption of its corporate management subsidiary Ethniki Kefalaiou, as Kathimerini understands that the decision has already been approved at all corporate levels and will be immediately enforced.

 Systemic lenders cannot ignore market concerns over likely significant additional capital requirements

By Dimitris Kontogiannis

Local banks need to make a fast return to private hands, Alpha Bank CEO Dimitrios Mantzounis stressed while addressing the lender’s general meeting on Friday. Vassilios Rapanos, the bank’s president, referred to a need for stability and the implementation of reforms.

Yannis Stournaras was sworn in as the new governor of the Bank of Greece on Friday in the presence of President Karolos Papoulias (center) and Finance Minister Gikas Hardouvelis (left).

Yannis Stournaras was sworn in as new Bank of Greece governor on Friday during a ceremony presided over by Greek President Karolos Papoulias. Recently appointed Finance Minister Gikas Hardouvelis was also present at the ceremony.