The Greek Deal.com
BANKS
Upgraded four Greek systemic banks, giving all of them a positive outlook
Fitch upgraded four Greek systemic banks, giving all of them a positive outlook.  In particular, the agency upgraded the long-term ratings of National Bank and Eurobank to 'BB+', from 'BB' previously, with positive outlooks for both banks.
On track for strong profitability
Expectations for Greek banks are improving following the better-than-forecast results announced for the first half of the year, Morningstar DBRS notes.
Opens inquiry into interest rates on bank deposits
Exerting its relevant jurisdiction, the Competition Commission chose to launch an investigation into the deposit rate industry.
Calls on banks to reduce commissions
Kostis Hatzidakis, the Minister of Economy and Finance, held a secret meeting with the bankers on July 8.
Distributing dividends after 16 years
For the first time in sixteen years, the four systemic banks are distributing dividends, with an estimated €870 million to be distributed overall based on their request.
Over 3,000 small and medium-sized enterprises have applied for TEPIX III
In just one week, 3,000 requests were made to the 12 participating commercial banks via the Hellenic Development Bank's (HDB) platform for the first phase of the Entrepreneurship Fund (TEPIX III) procedure.
ESG criteria in TEPIX III loans
The managing director of the Hellenic Development Bank mentioned that the entrepreneur will need to answer a series of questions about ESG standards in order to be eligible for a loan from TEPIX III.
On track for strong profitability - 38% increase in profits in first quarter of 2024
According to analysts, Greek banks were expected to surpass their full-year targets in 2024, demonstrating their strong profitability in the first quarter of the year.
€3.62 billion in profits and 33% reduction in red loans by 2023
A coverage rate 25% higher than the European average for the four systemic banks in 2023, according from the European Central Bank's Single Supervisory Mechanism.
Total dividends at 840 million euros according to Politico
ECB greenlights dividends for Greek Banks - €840 million according to estimations.
Acquires Aegean Baltic Bank
ABBank under the control of metals tycoon Telis Mystakidis