Systemic banks are expected to record high interest income that will reach 2.5 billion euros in the third quarter.
Although the interest rates for Greek banks are stabilizing, since the current cycle of increases has been completed, Greek credit institutions, as well as European ones, have achieved amazing figures in terms of interest income.
Banks’ third quarter will also be a surprise, according to bankers, despite the fact that banks have unfortunately negative credit growth as high interest rates have frozen demand for loans.
As far as the third quarter is concerned, it is estimated that interest income will easily exceed 2.5 billion euros, while for the whole year it is estimated that the corresponding income will be around 9 billion euros given that the fourth quarter will move to the levels of the third quarter.
However, the negative credit expansion seems to have affected the climate.
In their attempt to help the situation, banks are focusing on international syndicated loans and Financial Stability Fund loans which are the only ones moving during the current period of time.
Meanwhile, the energy package of the Recovery and Resilience Facility (RRF) is running out and eyes should be turned upon the corresponding digital package, the so-called ‘Digital Loans’ of the Fund. However, banking circles noted that the situation is not well organized regarding this category of loans and there does not seem to be any particular interest in this direction.
Banks estimated that 2023 will be an exceptionally good year in all respects, however the stabilization of interest rates and weak credit expansion are not good guarantees for the future.