The Greek banking sector is better placed than in the past to withstand potential shocks and perform its intermediation function, despite a slight deterioration in the asset quality of credit institutions, according to the Financial Stability Review released by the Bank of Greece on Tuesday.
Cyprus’ banks have said their exposure to Russian and Ukrainian businesses shrunk by more than 13,000 clients and 35,000 accounts, amounting to €2 billion euros, in the year after Moscow’s 2022 invasion of its neighbor as they adhered to sanctions that the UN, the European Union, the US and Britain have imposed on Russia.
National Economy and Finance Minister Kostis Hatzidakis has called on banks to slash their charges once again.
The future of a special tax on bank deposits paid to the state in Cyprus may be heading for a shift, though a final decision is not guaranteed.
The credit institutions that are considered systemically important and the safety reserve that each of them must have for 2025 has been determined by a decision of the Bank of Greece.
Banks are planning their strategy on payments and charges on money transfers.
The collaboration between Alpha Bank and UniCredit ensures extroversion and access to better products and services for Greek businesses.
Deposits of approximately 19 billion euros have returned to banks from households and businesses since 2021, reflecting a 16% increase, according to a note on the Greek economy from the Bank of Greece.
The strategic cooperation between Alpha Bank and Italian giant UniCredit is now being applied with the official launch of the onemarkets Fund by UniCredit exclusively through Alpha in Greece.
The governor of the Central Bank of Cyprus, Christodoulos Patsalides, has called on banks to consider the social dimension of their pricing policies.
The governor of the Bank of Greece, Yannis Stournaras, has emphasized that despite the progress made by Greek banks on key fronts, challenges remain.
The board chairman of the National Bank of Greece and the Hellenic Bank Association, Gkikas Hardouvelis, stated on Monday the capital adequacy ratios of Greek banks are strong and very close to the corresponding European average, while the liquidity ratios far exceed the minimum requirements and the European average.
The mortgage market in Greece is registering consecutive negative records.
A new interest rate subsidy scheme for mortgages is on the horizon in Cyprus, promising to ease the burden for many homebuyers.
State revenues to date from the privatizations of the four systemic banks amount to 3.5 billion euros, after this week’s sale of 10% of National Bank of Greece,
Nearly one in 10 firms in Greece in 2021 were “zombie” companies, according to a recent report by the Foundation for Economic and Industrial Research (IOBE), which revealed that 4,500 of 51,000 firms surveyed were at least 10 years old and had an interest coverage ratio of less than one percentage point for three consecutive years.
