Dividend

The Greek stock market, which shifted its tone following the ECB’s interest rate announcement, once again fell short of expectations. Although it initially aligned with global market trends, it eventually diverged, trailing behind the positive sentiment seen elsewhere.

The domestic market is reacting, after the 4-day downward streak that preceded it, which was a result of the lack of positive catalysts. In contrast to previous days, Athens is tuning in today (12/9) to the rally in international stock markets. The resurgence of buying interest is driven by Wall Street’s tech rally, as well as the boost provided to euro markets by the ECB’s monetary easing.

The Greek stock market found itself in downward territory for the second consecutive day, falling back below 1,440 points, but keeping this critical threshold in close proximity. Athens failed to coordinate and went “against” the favorable sentiment of the international markets. Stabilizing trends on the board, with the General Index moving in a range of just 9 points.

The bank that will result from the merger of Attica Bank and Pancreta Bank is aiming at becoming a strong fifth pole in Greek banking, besides the current "big four" (Alpha, Eurobank, National, Piraeus).

Two major milestones set the tone for Alpha Bank’s developments in Q2 2024, said the Bank’s CEO, Mr. Vasilios Psaltsis, during the presentation of the results. According to Mr. Psaltis.

National Bank of Greece announced first-half profits of €670 million, up 26% from the same period last year, on Thursday.

Almost as importantly for shareholders, CEO Pavlos Mylonas announced plans to significantly increase dividends in the near future, with the target being 70% of the profits. 

The National Bank posted a significant improvement in profitability in the first half of the year, continuing with strong performance across all sectors.

According to the announcement by the National Bank of Greece :

Today’s (7/29) session was a session of tight trading and lack of risk appetite on the Athens Stock Exchange, which returned to negative territory under the “weight” of dividend cuts, mainly from National Bank. Despite the losses, contact was maintained with 1,470 points, with the General Index closing off the daily lows.

The Greek stock market began Monday’s (29/7) session down, in a week that starts with the National Bank’s dividend cut, followed by crucial announcements on the results of heavyweight listed companies.

For the first time since fiscal 2008, Greek banks are sending their shareholders to the “treasury” this summer. They will distribute dividends amounting to €814 million.

The dividend stay seals the return of Greek banks to normality, having travelled a difficult road for the Greek banking system.