GREECE
Macro/Political:
- The Greek PDMA announced that during the 13W T-Bills auction of EUR 400mn which took place yesterday, the total bids reached EUR 923mn and the amount finally accepted was EUR500 mn at a uniform yield of 2.22% (vs 2.16% in the previous 13W T-Bills auction in July 2026).
Source: PDMA
Markets:
- Piraeus Bank’s reported net profit in 2Q26 stood at EUR 336 mn compared to EUR 281mn in 1Q26 and EUR 276mn in 2Q25. 1H26 reported net profit stood at EUR 617mn. The Bank’s NPE ratio stood at 2.2% and NPE coverage ratio at 67%. Total Capital ratio and CET1 ratio (pro forma) stood at 18.6% and 12.8% respectively.
Piraeus Bank CEO Christos Megalou stated that the Bank is delivering profitable growth at scale and generating strong returns by expanding customer activity, building a more diversified financial services platform, and investing in AI-powered productivity, while maintaining capital strength and a low-risk profile.
Source: Euronext Athens
- Optima Bank’s net profit in 2Q26 stood at EUR 56.8 mn compared to EUR 47.5mn in 1Q26. 1H26 reported net profit stood at EUR 104.1mn compared to 81.1mn in 1H25. The Bank’s NPE ratio stood at 1.62%. Total Capital ratio and CET1 ratio (pro forma) stood at 17.37% and 11.83% respectively.
Optima Bank’s CEO Mr Dimitris Kyparissis stated that the Bank continued its strong growth trajectory during the second quarter of 2026, delivering robust financial performance despite a challenging operating environment marked by geopolitical uncertainty, volatility in energy markets and persistent inflationary pressures. Strong demand for financing, significant deposit growth and the further strengthening of our liquidity position underscore the resilience and momentum in Optima’s business model.
Source: Euronext Athens
- OTE posted profits of EUR 145mn in 2Q26 compared to EUR 129.2mn in 2Q25(+12.2% y-o-y). Adjusted EBITDA stood at 343.3mn in 2Q26 compared to 333.2mn in 2Q25.
Source: Euronext Athens
- Titan 1H26 net profit after tax and minorities stood at EUR 153.2mn, reflecting an increase of approximately 123.9% (y-o-y). EBITDA stood at EUR 312mn in compared to EUR 286.9mn.
Source: Euronext Athens
- METLEN announced a long-term commercial agreement to supply approximately 25% of the annual gallium output from its planned production facility in Greece. The agreement, the first major commercial gallium supply deal between a European producer and a leading US technology company, marks a strategic milestone in Europe’s efforts to strengthen the resilience of its critical raw materials supply chain.
Source: Euronext Athens
CYPRUS
Macro/Political:
- UN Secretary-General Antonio Guterres said he had decided to convene a new five-plus-one meeting on the Cyprus issue following his discussions with Cyprus President Nikos Christodoulides and Turkish Cypriot leader Tufan Erhürman, held both separately and jointly. Guterres said that, from the earliest days of his mandate and in line with the UN’s established parameters, he had sought, through his good offices, to assist the Greek Cypriot and Turkish Cypriot sides in their efforts to reach a comprehensive and sustainable solution to the Cyprus issue.
Source: PhileNews
- According to the Economic Research Centre of the University of Cyprus, Cyprus’ economic growth is projected to moderate from 3.8% in 2025 to 2.7% in 2026, and 3.1% in 2027. Compared to the April forecast, the growth projection has been revised down by 0.2 percentage points while the forecast for 2027 has remained unchanged The downward revision was driven by the slowdown in GDP growth during the first quarter of 2026 in both Cyprus and the euro area, as well as by negative developments in leading indicators during the period April–June, primarily related to the ongoing conflict in the Middle East. Inflation as measured by the CPI, is forecast to accelerate markedly, rising from 0.1% in 2025 to 3% in 2026, before easing to 2.1% in 2027. Compared with the April forecast, the inflation forecasts for both 2026 and 2027 have been revised up by 0.3 percentage points. The upward revision to the inflation outlook mainly reflected the sharp increases in international oil prices recorded in April and May 2026 relative to the same months of 2025, as well as the notable pickup in domestic inflation during the second quarter.
Source: UCY
