ENGLISH EDITION

Speaking in Parliament, the Greek Finance minister made special mention to measures supporting the Greek society, focusing on the middle class and lower classes, such as a reduction in a special property tax, a new tax legislation, a heating subsidy, expanding the tax base, etc.

The construction of apartments on the Hellinikon complex will add enormous value to the project, as outlined by Lamda Development in its prospectus for the company's upcoming 650 million euro rights issue. The company plans to build 10,800 apartments at Hellinikon with an average size of 110 square meters each.

The decision, to be activated on January 1, 2020, will mean that "short-term export credit risks towards Greece will be considered as marketable to be covered by private insurers," the European Commission said in an announcement.

Real estate investment company (REIC) Briq plans to invest most of the 50.7 million euros it will raise from an upcoming rights issue on new property, with the balance going to pay down debts. According to the prospectus, the company has already signed an initial agreement to buy a building located at 67 Aiolou street, central Athens, for 6.5 million euros.

Greek state budget recorded a primary surplus of 5.739 billion euros in the January-October period, up from a budget target for a surplus of 4.179 billion and a primary surplus of 3.811 billion euros in the same period last year, the Finance ministry said in a report on Monday.

Piraeus Bank Group on Friday reported pre-tax profit of 146 million euros in the January-September period, with net profit of 87 million euros in the nine-month period from a loss of 304 million last year.

In Greece's Enhanced Surveillance Report, the European Commission said that net fee and commission income accounts for 14.6 percent of operating income for Greek banks, versus a euro area average of 30 percent, as of end June 2019. This is posing a risk to their financial health. 

Eurobank Group on Thursday said its consolidated net profits totaled 149 million euros in the January-September period. Eurobank’s performance in the nine months of 2019 was positive. Net profit at a Group level reached 149 million euros. Net interest income receded by 3.0% to 1,031 million euros, but was up by 1.1% (quarterly) to 346 million.

National Bank Group on Thursday said its net profit from continuing operations rose to 423 million euros in the January-September period from 61 million in the same period last year. Operating profit grew to 465 million euros in the January-September period, from 65 million last year, driven by strong core income, solid trading & other income aided by one-off gains, cost cutting and low CoR despite rigorous cleanup of the NPE book

The Greek government on Thursday tabled the 2020 draft budget in Parliament which envisages a GDP growth rate of 2.8 pct and a primary surplus of 3.6 pct in 2020, exceeding a target for a 3.5 pct primary surplus and putting the Greek economy on track for stronger growth.