– Hello there, we’re slowly heading into summer now that May is on its way out, and I think the sight yesterday of hundreds of tourists snapping photos of the changing of the Evzones guard in Syntagma says a lot about the promising tourist season we’re expecting. Otherwise, poor Mitsotakis didn’t even dare slip away for a couple of days to attend his kids’ graduation (all three of them, mind you) in the U.S., and boom… I hear two parties suddenly sprouted. One on his right, apparently being toyed with by Samaras, and when someone asked him if he really means it (starting a party), he allegedly replied, “well, they’re pressuring me…” Now, whether it’s his pillow pressuring him in his sleep, I don’t know — but anyway, I repeat, we love President Antonis, let him say whatever he wants. It’s not the first time a politician has dreamed of glory.

Louka and the dinner parties
– Also, there’s another party in the works, which I think will worry K.M. just as much — over in New York, where he currently is. This one’s being talked about by various political retirees, mainly from the PASOK side, at Katseli’s house, over cheese and pears as the saying goes, because I hear Louka is quite the cook, and these dinner gatherings are happening left and right. Between us, that’s a good thing — at least they’re enjoying themselves, eating and drinking. I heard that at the last dinner, among others, Manzouranis was invited, and at some point, he said: “Guys, the late Livanis used to say that ‘to start a party you need money, a database for organization, and a leader.’ All we’ve got is a database. Okay, let’s say a leader might turn up (though I doubt it), but where the hell are we gonna find funding?” Not that the lawyer’s wrong — but hey, hope dies last. At the same time, there was talk about merging the left-wing parties, with or without Zoe (…with tzatziki or not, as we say) into a joint ballot, but most people said that won’t fly without PASOK. Androulakis isn’t even open to discussing it, so the project seems to have no future. One of the more “progressive” ones in the group of retired politicians even said, “Even if Androulakis is out of the picture after the elections, do you think the PASOK crowd are suckers enough to team up with us? They’ll go with Mitsotakis, form a government, and get back in the game.” I hear that.

Drones
– Of course, I can’t leave unmentioned this ridiculous sight with the advertisements from a fleet of drones flying over Athens. This time they were over the Acropolis, next they’ll be heading to the Temple of Poseidon at Sounio, to Delphi, to Parliament, and so on. First off, let me just ask — who knows what kind of safety is ensured when 500 drones are flying over populated areas? What if those 500 drones crash by accident — or worse, as a terrorist attack — onto the heads of innocent people or government targets? Not to mention, the spectacle is laughable and the ad is dirt cheap for such high exposure. Okay, if it’s a major cultural, athletic, or national event — sure, get a special permit from the authorities and do a show. But imagine a drone formation over Syntagma advertising Mitsos’s souvlaki shop? In several cities, they’ve banned it completely, and in others, permits are issued only under very strict conditions. Let’s put an end to this too.

KYSOIP
– K.M. might be in America (he’s speaking tomorrow at an event marking Greece’s presidency of the UN Security Council), but back in Athens, the work goes on. At 11:00, in the Bodossaki Mansion, Hatzidakis is convening a “mini-cabinet” meeting for the Government Council for Economic Policy, and the agenda includes quite a few European and domestic issues. Several ministers will present reports, and what’s interesting is that this is the first meeting of the body without Mitsotakis. This will be the new norm from now on, with possibly a few exceptions.

ERT-Eurovision
– Needless to say, Claudia’s 6th-place finish and Greece’s overall performance in Eurovision was a godsend for ERT’s new management duo, Giannis Papadopoulos and Kostas Papavasileiou. There’s also satisfaction at M.M., where Pavlos Marinakis — the official responsible for ERT — is based. He had backed those personnel choices and supported the national final format instead of a direct artist assignment. Also boosting the good vibes was the return of the Kapoutzidis-Kozakou duo to commentary, after last year’s fiasco. Generally speaking, I think the government would rather not dwell on last year, with the near-diplomatic incident caused by Satti’s yawn during the interview of the Israeli singer. In plain terms, ERT’s effort this year was more organized and well thought out, and the positive atmosphere helped achieve the best placement in over a decade.

Meeting on Hydra
– Yesterday’s report on protothema.gr about the chaos with cars, motorbikes, and bicycles in Hydra has sparked a lot of discussion. The situation on the island has been known to the government for days, and I hear that a meeting has been scheduled for Tuesday at M.M., headed by Skertsos and with Mendoni in attendance, to decide what’s to be done — especially with summer just around the corner.

Certainly! Below is the English translation of the provided Greek text, preserving the structure, idiomatic expressions, and humor as closely as possible:

National Bank, the Saudis, and ADMIE
-Without any drum rolls, the National Bank quietly made its entrance into the Saudi Arabian market. The bank has filed the relevant documents to open a branch in Riyadh, in the area favored by both local and international business groups. In fact, CEO P. Mylonas and the Group General Manager of Corporate and Investment Banking, V. Karamouzis, traveled to Riyadh, where they met with relevant ministers and are generally laying the groundwork for National Bank’s entry into the country, as corporate banking executives are flying back and forth. The first fruits of National’s business in Saudi Arabia were seen in the data center being built in Spata by PPC and DAMAC. National is now waiting for the Riyadh branch to open and is simultaneously in talks with Saudi Electricity and ADMIE about the electrical interconnection between the two countries.

We’re heading for a National vs. Piraeus Bank match
-And continuing with National Bank, here’s a bit of inside info and the mood picked up by this column. There was clearly some irritation over the acquisition of National Insurance, but it was more emotional than business-related. At National, they believe the insurance company has unresolved issues, and Piraeus Bank will need a lot of time, money, and man-hours to get it in shape. Internally, the stance at National is “let them sort it out with Triantafyllakis,” referring to the General Manager of Legal Services at National, a notable figure in the legal world, as he’s a professor at the Democritus University and the School for Judicial Officers. So, they seem poised to exhaust all legal avenues—not necessarily to reverse the deal, but primarily to protect National’s client base and, secondarily (though they won’t admit it), to give the competition a bit of a hard time. Let me add that I don’t know how this clash between the two banks will unfold, but M.M. (double-confirmed) considers it strictly a matter between National and Piraeus and has no intention of stepping in—same goes for the Bank of Greece, where the sentiment is similar.

What P. Mylonas is planning now
-Mylonas (as usual) doesn’t seem to be swayed by market chatter. What he says behind closed doors, I can’t say, but broadly speaking, he’s focused on the bank’s next move. Sources say National Bank has looked into about ten different projects. The word is that there’s been a literal parade of serious players and proposals. Of the roughly ten projects that came to the table, two or three stood out as particularly interesting, and that’s where the focus is. They say they’re thinking outside the box, and it seems that some kind of move (partnership? acquisition? stake?) will target the insurance sector, because they don’t want to be held “hostage” to bancassurance until things are sorted out with National Insurance. Barring any surprises, expect a deal from National by year’s end.

Snappi is getting ready
-And now we head to the locker room of the other team—that is, Piraeus Bank—which is warming up the pitch for its digital bank. The capital increase for Snappi has been completed, and the €2.1 million approved by the General Assembly of the digital bank last April has been paid in, via a new share issue, plus €7.8 million in share premium in cash. As a result, Snappi’s share capital now stands at €56.6 million, and the neobank, owned by Piraeus Bank and Natech, is getting ready to officially launch its services next month (sign-ups for the waitlist have already begun). The goal is to reach 100,000 customers in the first year and over 1 million by 2027. Meanwhile, in the third quarter this year, Snappi Hub will open in Athens—the bank’s only physical location. Plans are also in place for international expansion starting in 2026. Let me add that the key challenge here is to ensure Snappi doesn’t cannibalize Piraeus Bank’s existing customer base, though I imagine they’ve already crunched those numbers.

Attica Bank is on the right track
-Turning around a bank is no walk in the park, especially when the bank has hit rock bottom. That’s exactly the case with Attica Bank, which—as is well known—had crashed into the rocks. A new business plan was implemented with new shareholders, fresh leadership, a capital increase, and the cleanup of non-performing loans (NPEs down to 2.9% in Q1 2025 from 61.5% in 2024, with a coverage ratio of 46.8%). Attica Bank is in the final stages of its recovery and is strengthening its balance sheet. In the first quarter, it doubled the group’s recurring operating income year-on-year to €55.1 million from €25.3 million and improved net interest income by 90%. Despite the fiercely competitive environment, CEO E. Vrettou announced new disbursements totaling €671 million, hitting the targets of the bank’s business plan. Notably, 47% of new loans went to SMEs, 6% to individuals, and the rest to large enterprises. Overall, Attica Bank is on a good path, with total group deposits reaching €6 billion and recurring general operating expenses down by 11%. The first quarter absorbed the cost of the voluntary exit program (about €15 million), while management is working on completing the operational merger with Pancretan Bank, which will mark the end of this transitional phase, having already achieved over one-third of the planned cost synergies from the merger.

Fitch canceled “sell in May and go away”
-A tailwind is blowing through the Athens Stock Exchange, as after breaking the 1,800-point barrier for the first time in 15 years, the upgrade of Greece’s economic outlook by Fitch added another positive catalyst for the local market. With two weeks still to go in May, the usual “sell in May and go away” rule doesn’t seem to apply—at least not this year—with the General Index up over 6% this month. Among bank stocks, Alpha Bank matched Eurobank at €2.6 per share, with Alpha extending a 9-year high (last seen in May 2016) and Eurobank closing in on its record of €2.7 from November 2015. Piraeus Bank closed above €5.5, hitting a new 4-year high (since April 2021), and is now approaching a market cap of €7 billion. Coca-Cola closed above €46 for the first time ever, with its valuation once again topping €17 billion. As for Metlen, boosted by a sharp price target hike from Morgan Stanley, it came within a whisker of the record €44 mark. Also, after a one-year pause, Aegean hit the €13 peak again. Meanwhile, three mid-cap stocks closed at new all-time highs: Quest Holdings, Kri Kri, and Profile. The Athens Exchange Group (HELEX) climbed to a 22-month high, nearing the €6 mark for the first time since July 2023.