GREECE
Markets:
- DBRS, in a commentary on the large Greek banks, stated that they maintained strong credit fundamentals in 1H26, supported by resilient profitability, stable asset quality, robust loan growth, and sound funding and capital positions. The agency added that it expects external risks to remain elevated; however, resilient profitability, sound provisioning buffers, and ample funding and capital resources provide the capacity to absorb potential shocks. The agency also highlighted that the large Greek banks reported aggregate net profit of EUR 2.4bn in 1H26, up 2.2% (y-o-y). Revenue growth was supported by resilient NII, robust loan growth, and higher fee income, reflecting improving revenue diversification. Despite higher operating costs, operating profitability remained resilient, leading banks to reaffirm or upgrade their 2026 guidance, mainly driven by improved assumptions for interest margins, loan growth, and income.
Source: DBRS
CYPRUS
Macro/Political:
- President Christodoulides on Tuesday unveiled a partial cabinet reshuffle, which will see four ministers replaced. The reshuffle will affect the Transport Ministry, the Agriculture Ministry, the Deputy Ministry of Social Welfare, and the Deputy Ministry of Culture. Evanthia Tsolaki will be the new Transport Minister, succeeding Alexis Vafeades. Christos Senekis will be the new Agriculture Minister, replacing Maria Panayiotou.
Tina Pavlou has been named the new Deputy Minister of Social Welfare, succeeding Clea Hadjistefanou-Papaellina, who will move to the position of Deputy Minister of Culture, succeeding Vassiliki Kassianidou.
Source: Cyprus Mail
