Greece’s balance of travel services in August 2025 posted a surplus of EUR 4,148.7mn

Macro/Political:

• The Greek PDMA announced that during the 26W T-Bills auction of EUR 500mn which took place yesterday, the total bids reached EUR 984mn and the amount finally accepted was EUR 600mn at a uniform yield of 1.76% (vs 1.79% in the previous 26W T-Bills auction in September 2025).
  Source: PDMA

• The Bank of Greece, in its Financial Stability Report, noted that the risks to financial stability in Greece remain mostly exogenous, linked to geopolitical tensions, increasing trade protectionism, and the potential for a sharp repricing of financial assets in global capital markets. However, during 1H25, Greek banks further improved their fundamentals and strengthened their resilience to potential shocks. The profits after tax of Greek banking groups amounted to EUR 2.5 bn, compared with EUR 2.4 bn in 1H24.
  The capital adequacy ratios of Greek banking groups remained strong. In particular, the CET1 ratio on a consolidated basis declined slightly to 15.8% in June 2025 from 16.0% in December 2024, while the Total Capital Ratio (TCR) rose to 20.4% from 19.8% over the same period. Finally, asset quality also improved. As of June 2025, the ratio of  NPLs to total loans in Greece stood at 3.6%, down from 3.8% in December 2024, the lowest level of the NPL ratio since Greece joined the Euro area.
  Source: BoG

• Based on provisional data, the balance of travel services in August 2025 posted a surplus of EUR 4,148.7mn, up from a surplus of EUR 3,827.7mn in August 2024. Travel receipts rose by 10.5% (y-o-y) to EUR 4,523.7mn, while travel payments also increased by 41.4% (y-o-y) to EUR 375mn. In January-August 2025, the balance of travel services showed a surplus of EUR 14,340.6 mn, up from a surplus of EUR 13,041.8mn in the same period of 2024.
  Source: BoG

• The new revision of Greece’s national Recovery and Resilience Plan, Greece 2.0, is expected to reach EUR 800-900 mn, similar to adjustments being made by other EU member states. Alternate National Economy and Finance Minister Nikos Papathanasis stated at a press conference on Wednesday that the seventh payment request to the EU will be submitted in the first days of December.
  Source: Kathimerini

Markets:

• NBG will announce 3Q25 financial results on Thursday 6/11/2025.
  Source: ATHEX