Attica Bank SA: 06/30/2021 Interim Financial Report

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ATTIC BANK

INTERIM MANAGEMENT REPORT OF THE BOARD OF DIRECTORS

introduction

Dear shareholders,

We present to you the annual report of the Board of Directors for the financial year from 01/01/2021 to 06/30/2021. This report summarizes information on the Group and the “ATTICA BANK SOCIETE ANONYME BANKING COMPANY” Bank, financial information aimed at generally informing shareholders and investors of the financial situation and results, and overall development. and changes that occurred during the year under review (1/1 / 2021-30 / 06/2021) as well as important events and their impact on the accounts for this year. In addition, the main risks and uncertainties with which the Group and the Bank could be confronted in the future are described and the most important transactions executed between the Bank and the persons associated with it are listed.

For the first half of 2021, the financial context was as follows:

International economy: Slowdown in the recession at the start of 2021, mainly by the recovery in world trade

The COVID-19 pandemic continued to put pressure on global economic activity in the first quarter of this year, although less than in the previous quarter. The recession rate in OECD countries was 0.4% in the first quarter of 2021, compared to 2.9% a quarter earlier and 4.4% at the end of 2020. The change in GDP therein in the most developed economies (G7) amounted to -0.7%in the first trimester, compared to -3.2%in the previous quarter. In contrast, in the 20 largest OECD economies, the recession intensified to 3.4% from 0.7% a quarter earlier. The Chinese economy grew in the first quarter of 2021 with a rate of 18.3%, the highest in 30 years. As a result, the slowdown in global GDP decline came mainly from the more developed economies and China. De-escalationthe recession or the start of recovery in some countries is mainly due to the strong recovery in international trade.

Strong fiscal support measures continue to support economies, especially the more developed ones, where fiscal space is larger and borrowing costs remain very low. On the other hand, the impact of the support measures on their budget balances should bring them, again this year, close to the high deficit levels of last year. That implies a significant burden on public debt, and in countries where it is already high, can create a refinancing problem in the future. Inflation recovered in most OECD countries (3.3% in April) from low levels in early / mid 2020. This trend is due to weak base effects in 2020, but also to the sharp rise in commodity prices and resurgence in consumption demand with gradual opening up of economies.

Eurozone: decrease in recession, mainly due to lower negative impact of domestic demand

Euro area GDP fell 1.2% from January to March 2021, after a recession of 6.6% in 2020 and 4.7% in the last quarter. Domestic demand remained the main driver of the recession, but with a much more moderate negative effect than in the previous quarter (-2.9percentage points of GDP, compared to -5.5pp). This slowdown is mainly due to the lower negative impact of investments (-0.6pp of GDP, compared to -2.1pp), while household consumption reduced GDP by 2.9%, -4.0%a quarter earlier. To this also contribute net exports, which boosted it by 1.7%, against 0.8% in the period from October to December. As the recession in the eurozone de-escalation,employment continued to decline in the first quarter of 2021 at the same pace as in the previous quarter, by 1.8%, faster than the average in 2020 (-1.6%).Unemployment increased in the first quarter of 2021 to reach 8.5%, compared to 8.0% in the fourth quarter of 2020 and 7.8% compared to last year. According to the latest statistics available, presented by the European Commission, unemployment in the euro area in the first half of 2021 fell to 7.7% against 8.0% in the first half of 2020.

Restrictive interventions in the recession continued to act in the first quarter of this year, the contribution of public consumption to GDP being positive and stable from the third quarter of 2020 (+ 0.6%). Thanks to the support measures, the average primary deficit of the budget balance of

Last year, the government stood at 5.7% of GDP in 2020, compared to a primary surplus of 1.0% in 2019. In the first quarter of this year, the average level in the European area was 7, 6% of GDP. The most important fiscal interventions to deal with the pandemic, middle termhorizon, is the European Recovery Fund (NextGenerationEU) and the strengthening of the EU budget for the period 2021-2027.

INTERIM FINANCIAL REPORT

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