Stournaras: Greek economy's growth rate remains unchanged at 2.3% in 2025
Despite this, the BoG maintained its forecast for the growth rate of the Greek economy in 2025 unchanged at 2.3%, a performance much higher than the average of the eurozone
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Stournaras: Greek economy’s growth rate remains unchanged at 2.3% in 2025 -
ECB’s Stournaras says higher inflation due to tariffs could delay monetary policy normalization
ECB’s Stournaras says higher inflation due to tariffs could delay monetary policy normalization
“Any further resurgence in inflation or inflation expectations could delay or even halt the process of monetary policy normalization, worsening financial conditions and growth momentum,” Stournaras, who is governor of the Bank of Greece, said at the Greek central bank’s annual shareholders’ meeting.
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Bank of Greece Proposes Transfer of €69.6 Million in 2024 Profits to Greek State
Bank of Greece Proposes Transfer of €69.6 Million in 2024 Profits to Greek State
During the meeting, the General Council approved the bank’s audited annual accounts for the financial year ending December 31, 2024. They also decided to propose to the General Meeting of Shareholders the distribution of a statutory dividend of 0.6720 euros per share, the same as last year, totaling 13.3 million euros. Additionally, they recommended transferring 69.6 million euros to the Greek state from profits.
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Helleniq Energy and ExxonMobil will decide in the next three to six months on exploratory drilling
Helleniq Energy and ExxonMobil will decide in the next three to six months on exploratory drilling
As for Elpedison, Helleniq Energy management estimates that the completion of the 50% acquisition agreement from Italian company Edison will be completed in the next quarter and its full integration into the group will be completed in the third quarter of the year.
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Procopiou Takes Full Ownership of Astir Palace Hotel Group
Procopiou Takes Full Ownership of Astir Palace Hotel Group
While the price paid for the final 77% hasn’t been disclosed, it’s speculated that Procopiou paid a premium for full control. This comes after substantial returns to shareholders from the sale of 13 ultra-luxury villas built on the former Aphrodite hotel site, reportedly totaling €450 million. Published financial statements indicate €317 million in returns over the past three years: €160 million in 2021, €37 million in 2022, and €120 million in 2023.
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Piraeus in Exclusive Talks with CVC to Acquire 70% of Ethniki Insurance
Piraeus in Exclusive Talks with CVC to Acquire 70% of Ethniki Insurance
Piraeus CEO Christos Megalou recently stated that the acquisition of Ethniki Insurance, Greece’s second-largest insurer, would be instrumental in increasing the bank’s fee revenues to 30% from the current 20%. The deal underscores Piraeus’ strategy of diversifying income streams beyond traditional banking activities and into the growing insurance market.
