Economy of Greece
Piraeus Bank grew full-year 2019 net profit, helped by lower operating costs and higher net interest income, Greece's largest lender by assets said on Monday.
Piraeus Bank, which is 26.2 percent owned by the country's HFSF bank rescue fund, reported a net profit of 270 million euros after net earnings of 185 million in 2018.
Greece has seen an increase of at least 50 percent in internet use in recent days following the government's decision to restrict citizens' movements to slow the spread of the new coronavirus, according to officials at the Digital Governance Ministry who indicated however that telecommunications networks are handling the strain so far.
The European Central Bank decision to lift its 33 percent limit on euro area government bond purchases gave Greek stocks a second consecutive day of healthy gains on Thursday. The bourse saw its capitalization grow by 2.5 billion euros over those two sessions, with credit sector stocks playing a major role in that advance.