ExxonMobil informed the Cyprus President that the gas reserves in blocks ‘Pegasus’ and ‘Glafkos’ are estimated at 8–9 tcf

Local Eye

Sep. 26, 2025

GREECE

Macro/Political:

  • The annual growth rate of total credit extended to the domestic economy stood at 7.4% in August 2025, from 7.2% in the previous month. The annual growth rate of total deposits increased to 6.1% in August from 5.6% in the previous month. The monthly net flow of total credit was negative by EUR 23 mn in August 2025, compared with a negative net flow of EUR 751mn in the previous month. The monthly net flow of total deposits was positive by EUR 2,328mn compared with a negative net flow of EUR 2,352 mn in July 2025.
    Source: BoG

 

Markets:

  • GEK TERNA raised EUR 500 mn at a yield of 3.2% through the issuance of 7-year bond. The final orders’ book closed above EUR 1.1bn.
    Source: ATHEX

CYPRUS

Macro/ Political:

  • Finance Minister Makis Keravnos was asked yesterday about the matter of the EUR 67.5mn grant allocated to Cyprus, for the liquefied natural gas import terminal project in Vasilikos, which has been requested back by the European Commission and the EU funding mechanism CINEA. Mr. Keravnos noted that the Finance Ministry had been concerned about the issue in recent weeks, adding that the government intends to examine all aspects of the matter and handle it in the most appropriate way.
    Source: StockWatch 

 

  • Total deposits in August 2025 recorded a net increase of EUR 44.3 mn, compared with a net decrease of EUR 154.5mn in July 2025. The annual growth rate of total deposits stood at 6%, compared with 6.5% in July 2025. The outstanding amount of total deposits reached EUR 56.5bn. Total loans in August 2025 recorded a net decrease of EUR 60.8mn, compared with a net increase of EUR 74.9mn in July 2025. The annual growth rate stood at 7.2%, remaining unchanged compared with July 2025. The outstanding amount of total loans reached EUR 26,54bn.
    Source: CBC

 

  • KEDIPES initiated a new payment of EUR 50mn for the 3Q25 in the context of the repayment of state aid. With the new payment, the total amount of the repayment of state aid in cash since the commencement of KEDIPES’ operations amounted to EUR 1.66bn.
    Source: KEDIPES

 

  • Government spokesman Konstantinos Letymbiotis announced that, at yesterday’s meeting between Cyprus’s President Nikos Christodoulides and ExxonMobil, the energy company informed the President that the total amount of natural gas in the Cyprus blocks ‘Pegasus’ and ‘Glafkos’ is approximately 8–9 trillion cubic feet.
    Source: StockWatch