Optima Bank

A significant meeting is on the agenda for the Greek economy, banks, the Stock Exchange, and major listed companies with the world’s 100 most powerful funds, managing assets worth approximately $30 trillion.

For the first time, Asia Minor studies will have a focused presence in Greek higher education with a new endowed chair at the University of Macedonia's Department of Balkan, Slavic and Oriental Studies. 

Global stock markets are under a wave of liquidations, with the geopolitical landscape clouded by the nuclear threat arising from the escalation of tensions in the Russia-Ukraine war.

Returning to positive territory for the Greek stock market, after yesterday’s “brake” on the 5-day rise that preceded it. Traders are “weighing” the Q3 and 9-month financial performance of systemic banks, as well as subsequent management statements on upgraded annual guidance, increased dividends and faster deferred tax (DTC) amortization.

The Greek stock market had its best session in a “deep” month today (23/9). After a sluggish start, buyers turned active with banks spearheading the rally, which gained more than +2%. In this way, the X.A. broke out of the “bottleneck” of 1,420-1,430 points, in which it had been “trapped”.

Sellers regained the reins of the domestic market, as part of consolidating some of the gains from the two-day upward reaction on August 6-7, following the -6.27% “Black Monday” (August 5).

On Monday (5/8), the General Index plunged by -7.37%, trading at 1,325.49 points, fluctuating between a low of 1,325.03 and a high of 1,428.01 points.

The current scenario reflects one of the most significant daily declines in recent years, comparable to February 24, 2022 (-6.42%) and March 23, 2020 (-7.58%). If the index falls below 1,300 points, it risks wiping out 2024’s gains.

Optima Bank posted first-half profits of €69 million, up 57% from the €44.1 million posted in the first half of 2023, it announced Thursday.

On a quarterly basis, profits rose 41%, to €36.3 million, from €25.7 million in the second quarter of 2023. CEO Dimitris Kyparissis noted that the bank posted an industry leading return on total equity of 26.7%.

The Greek stock market closed Wednesday’s (31/7) session on a positive note, with the banking sector giving its back, stopping a six-day downward trend that had cost it -5.26%.

Today’s (7/29) session was a session of tight trading and lack of risk appetite on the Athens Stock Exchange, which returned to negative territory under the “weight” of dividend cuts, mainly from National Bank. Despite the losses, contact was maintained with 1,470 points, with the General Index closing off the daily lows.