ECB Archives - Greek City Times

Greek State to Receive Nearly €70 Million from Bank of Greece Profits

The Bank of Greece (BoG) will transfer €69.6 million in profits from the 2024 fiscal year to the Greek state, following approval from its General Council. Despite a decline in net income and a sharp drop in pre-provision profits, the bank’s net profit reached €82.9 million after releasing provisions. Additionally, the Greek state and General Government bodies benefited from increased interest on their deposits, receiving €730.4 million and €392.3 million, respectively. The final profit allocation awaits shareholder approval.

Piraeus in Exclusive Talks with CVC to Acquire 70% of Ethniki Insurance

Piraeus Financial Holdings (BOPr.AT), one of Greece’s four largest banks, has entered exclusive negotiations with private equity firm CVC Capital Partners (CVC.AS) to acquire a 70% stake in Ethniki Insurance.

Trump’s Election Could Negatively Impact European Economy, Says Bank of Greece Governor

The election of Donald Trump as U.S. President could negatively impact both American and European economies if his campaign promises are enacted, warned Yannis Stournaras, Governor of the Bank of Greece and ECB board member. Speaking at a public debt conference, Stournaras highlighted potential inflation and public debt rises in the U.S., alongside growth slowdowns and euro exchange rate fluctuations in Europe. He emphasized that the ECB’s monetary policy remains unchanged until more concrete policy details are revealed.

ECB Cuts Interest Rates to 3.5% Amidst Economic Slowdown Concerns

The European Central Bank has reduced interest rates to 3.5% following a unanimous decision, amid declining inflation and economic slowdown concerns in the Eurozone. This move aligns with other major central banks’ actions to address fading inflation pressures and stimulate economic activity.