DBRS credit rating review of the Greek economy is scheduled to be released today

Macro/Political:

• DBRS credit rating review of the Greek economy is scheduled to be released today. The Agency currently holds Greece at BBB, outlook stable.
  Greece sent a clear message to Ankara yesterday, stating that it alone decides how to deploy and use its armed forces within its territory, after Turkey claimed that the transfer of a long-range Patriot air defence system to the island of Karpathos violated the demilitarized status of the Dodecanese. Greek officials said Ankara’s position is longstanding but viewed the criticism as another sign of confusion in Turkey over Greece’s rapid military buildup in the Eastern Mediterranean.
  Source: Kathimerini

Markets:

• PPC & Metlen have signed a joint venture agreement for the establishment of a joint venture company in which each party will hold 50% stake. The purpose of the joint venture is the development, construction, operation, of a portfolio of BESS projects up to 1,500 MW/3000 MW in Romania, Bulgaria, and Italy of which 1000 MW are expected to be implemented within the next 12 months.
  Source: ATHEX

• Credia Bank’s net income in 4Q25 stood at EUR 5.3mn compared to EUR 5mn in 3Q25. FY25 net profit stood at EUR 15.2mn. The Bank’s NPE ratio was 2.9%. Total Capital ratio and CET-1 ratio stood at 17.5% and 11%.
  Source: ATHEX

• Piraeus Bank’s CEO, Mr. Christos Megalou, in yesterday’s announcement of the bank’s five-year strategic plan, mentioned, among other things, that the bank does not intend to retain any of the surplus capital. Instead, it aims to deploy this capital in the most profitable way through potential M&A activity. More specifically, Megalou stated that the surpluses expected to be generated could finance acquisitions, such as an asset and wealth management company headquartered in Luxembourg. Furthermore, he noted that Piraeus Bank will begin its bancassurance partnership with Ethniki Insurance starting in early 2027.
  Source: Euro2day

Macro/Political:

• In December 2025, the Industrial Turnover Index reached 139,8 units recording an increase of 4.9% (y-o-y). For the period January – December 2025, the index recorded an increase of 5.0% compared to the corresponding period of the previous year.

  Source: CyStat