Optima Bank

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.

The Greek stock market began Monday’s (29/7) session down, in a week that starts with the National Bank’s dividend cut, followed by crucial announcements on the results of heavyweight listed companies.

The Athens Stock Exchange returned to an upward “channel” and coordinated with the recovery effort of foreign stock markets, ending the three-day downward streak that preceded it.

Athens-listed lottery and sports betting company Intralot signed an agreement for the issue of a new bond loan agreement of up to 100 million euros and duration to June 30, 2025, it said on Thursday.

Greece's investment grade recovery, expected to reduce borrowing costs for businesses while opening the door to a larger investor audience, combined with the start of the ECB's rate-cutting cycle, is accelerating activity for listed companies, supporting new issues of corporate bonds and fresh listings on the Athens Stock Exchange.

The "big four" Greek banks - Alpha, Eurobank, National and Piraeus - posted impressive first-half results, analysts say, focusing on their strong profitability and its main underlying cause, interest and commission fees, but also the quality of their assets and their liquidity, which led all to adjust their end-year goals upward.