The Greek Deal.com
BANK OF GREECE
Deposits soar by €3.8 billion in June
Private sector deposits recorded a significant increase of €3.826 billion in June 2024, compared to an increase of €303 million in the previous month, according to Bank of Greece data.
Current account deficit widened in the January-May quarter
Based on data released by the Bank of Greece on Monday, the current account deficit increased in May 2024 compared to the same month in 2023. This increase was primarily caused by the decline in the goods and primary income balances and, to a lesser extent, the secondary income balance. On the other hand, the services balance showed improvement.
Cash primary surplus at €2.952 billion in the first half of the year
Data from the Bank of Greece shows that the cash primary surplus for the six-month period (January–June 2024) was €2.952 billion.
Supports the merger of Attica Bank - Pancreta Bank
At today's Attica Bank General Meeting, Christina Papakonstantinou, the Deputy Governor of the Bank of Greece, emphasized that the Bank of Greece supports the merger of Attica Bank and Pancreta.
Criteria and loan conditions remain stable in the second quarter
While the general requirements for granting business loans were somewhat loosened in Q2 2024, the standards for lending to non-financial corporations (NFCs) stayed the same.
Greek banks are healthy
Governor of the Bank of Greece since 2014, Yannis Stournaras, discussed the crisis period, the referendum, the nation's current economic state, and his predictions for the future, nine years after the vote in 2015.
Loan rates and margins fell in May
According to relevant data from the Bank of Greece, interest rates on both new and existing loans decreased in May. This was accompanied by a narrowing of the spread between deposits and loans.
Extension to Intrum and doValue for the renewal of the operating licence
The deadline for Intrum and doValue's license renewal and subsequent operation in Greece under the updated legal requirements is extended until the end of 2024.
Decline in household deposits, increase for businesses
In May, net financing to the private sector was €66 million, while net financing to businesses was positive by €105 million.
Forecasts 2.2% growth and 3% inflation for 2024
The Bank of Greece projects that the Greek economy will grow by 2.2% in 2024, a slight revision downward from previous estimates of 2.3%. It then accelerates to 2.5% in 2025 and declines slightly to 2.3% in 2026.
Climate change and sustainability high on the BoG's agenda
During his speech at the Union of Hellenic Banks' Annual General Meeting, Yannis Stournaras, the Governor of the Bank of Greece, mentioned the efforts being made by central banks to combat climate change through sustainable development.