GREECE
Markets:
- Piraeus Bank’s reported net profit in 2Q25 stood at EUR 276mn compared to EUR 284mn in 1Q25 and EUR 330mn in 2Q24. 1H25 reported net profit stood at EUR 559mn. The Bank’s NPE ratio remained stable at 2.6% and NPE coverage ratio at 67.5%. Total Capital ratio and CET1 ratio (pro forma) stood at 20.4% and 14.4% respectively.
Source: athexgroup.gr
CYPRUS
Macro/Political
- According to the Economic Research Centre of the UCY, real GDP growth in Cyprus is projected at 3.2% in 2025 and at 3.3% in 2026, just below the growth rate attained in 2024 (around 3.5%). The forecasts for 2025 and 2026 are higher by 0.4 and 0.1 percentage points, respectively, compared to those in the April issue. Higher-than-expected growth in Cyprus during the first quarter of 2025, and further improvements in domestic activity and the labour market (as reflected in leading indicators for April–June) suggest a stronger outlook relative to the April issue. Additionally, recent declines in inflation, and the reduction of policy rates in the euro area, which has pushed domestic borrowing costs down, also contribute to an improved outlook in this issue.
Source: UCY
