Mitsotakis announced that Greece will offer subsidies worth a total of EUR 300 mn

Macro/Political:

• Greece will today auction 26 Weeks T-Bills with maturity September 25, 2026. The amount to be auctioned is EUR 400mn.
  Source: PDMA

• Greek Prime Minister Kyriakos Mitsotakis announced that Greece will offer subsidies for fuel and fertilisers and ferry ticket discounts worth a total of EUR 300mn in April and May to shield consumers and farmers from rising energy prices stemming from the Iran conflict.
  Source: Kathimerini

Markets:

• Credia Bank , announced its intention to proceed with an offering of newly issued common, registered ordinary shares with voting rights of Credia Bank with the abolition of the pre-emptive right of existing shareholders that will be admitted to trading on the Main Market of the Regulated Securities Market of the Athens Stock Exchange.
  The proposed issuance of the New Shares is subject to market conditions, an authorization by the extraordinary General meeting of the Shareholders to be held on 27 March 2026 and a decision of the company’s board of directors.
  Source: ATHEX

• Metlen announced on Monday that it has signed a Memorandum of Understanding with Naval Group, a French industrial company specialising in naval defence, including the design and construction of submarines and warships. The signing took place on March 19 at the M Technologies defence facilities in Volos, in the presence of the French Ambassador to Greece, Laurence Auer, to explore collaboration on submarine and surface ship projects. The agreement builds on existing cooperation between the two companies in naval programmes and reflects the shared ambition of both economies to support complex naval systems and contribute to a more resilient and competitive European defence sector.
  Source: Capital.gr

Markets:

• Bank of Cyprus has announced that it has reached an agreement with Cyprus Development Bank on the financial and legal terms for the acquisition of performing loans, deposits, and certain other assets and liabilities of CDB. The transaction perimeter includes a portfolio of performing loans with a gross book value of EUR 150mn and deposits of EUR 500mn. The transaction is expected to have a modest positive impact on the Group’s income statement, following the realization of synergies, and a limited impact on capital of approximately 35 bps.
  Source: ATHEX