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DBRS: Greek Banks Face Revenue Challenges But Strong Economic Outlook

by THEFUTURE.TEAM

February 3, 2025

Greek banks face a competitive disadvantage in terms of revenue generation, with a less diversified structure compared to their European counterparts. DBRS Morningstar reports that net supplies revenue in Greek banks represents only 17% of total operating revenue in 2024, compared to 22% in Europe. This lag is largely due to the global financial crisis and the Greek debt crisis, which significantly reduced household savings.

Despite these challenges, Greece’s economy has outperformed the Eurozone, and this trend is expected to continue. Strong private consumption, exports, and investment contributed to a 2.3% growth in 2023, with GDP projected to grow by more than 2% in 2024. The labor market has also improved, with unemployment at 9.6% in November 2024, down from a peak of 27.8% in 2013.

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Greek banks have benefited from higher interest rates, particularly due to a large portion of their loans being at floating rates. However, as net interest income (NII) faces pressure from expected rate reductions, Greek banks need to diversify their revenue streams further. The government’s plan to reduce banking supplies for retail customers by 2025, which includes cuts to ATM and money transfer services, could slow the pace of growth in net supplies revenue.

In response, Greek banks are focusing on improving revenue from supplies, both organically and through external partnerships and acquisitions. Net supplies increased to 17% of total operating revenue in 2024, up from 15% in 2019. These efforts, combined with the ongoing economic recovery, should help narrow the revenue gap with European banks.

Despite challenges like NII compression, higher operational costs, and potential credit risk increases, DBRS expects Greek banks to maintain adequate profitability. Continued economic growth, especially through EU funding and structural reforms, will support this outlook. However, geopolitical risks, such as trade barriers, could impact future growth prospects.

Looking ahead, DBRS believes that the ongoing strategic initiatives by Greek banks and the country’s robust economic performance will help mitigate the impacts of lower interest rates, allowing for continued growth in private savings and investments.

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Discovery of a New Dwarf Planet: Is Our Solar System Expanding?

by News Editor

June 16, 2025

A New Celestial Revelation: Meet 2017 OF201

In a groundbreaking astronomical discovery, researchers have identified a celestial body likely to be a dwarf planet far beyond Pluto. This thrilling discovery was made by astronomers from the Institute for Advanced Study in Princeton, New Jersey. Dubbed 2017 OF201, this object is located over twice the distance of Pluto from the Sun, marking it as one of the farthest known bodies in our solar system observable through optical telescopes.

Key Insights

The object is approximately 700 kilometers in diameter, smaller than Pluto’s 2377 kilometers, yet it stands to be the largest found in the outer solar system in over a decade if verified by radio telescopes.
Classified as an extreme trans-Neptunian object, 2017 OF201 joins the ranks of other icy bodies circling the Sun beyond Neptune’s orbit. This region is now known to host other giants such as Eris, Haumea, Makemake, and Gonggong.
Identified in a series of 19 observations over seven years, involving instruments like the Dark Energy Camera in Chile and the Canada-France-Hawaii Telescope, this discovery sheds light on the unexplored corners of the solar system.

Why 2017 OF201 Stands Out

2017 OF201 boasts a unique orbit, with its aphelion over 1600 times the Earth’s distance from the Sun. Meanwhile, its perihelion is 44.5 times the Earth-Sun distance, parallel to Pluto’s path. Such an extensive orbit is evidence of a chaotic past, likely involving gravitational interactions with a giant planet.

Unveiling the Kuiper Belt: A New Frontier

Nestled within the Kuiper Belt, this object hints at the possibility of numerous similar celestial bodies lingering in this icy expanse, largely hidden due to immense distances. As telescope technology advances, the possibility of unveiling more about our solar system’s outermost fringes grows ever more achievable.