By G. Sakkas
Better results by most companies listed on the Athens Stock Exchange (ASE) for 2017 apparently improved their overall financial situation, with total cash reserves held by the 172 listed companies increasing by 7.64 percent, yoy.
Conversely, overall borrowing by the same companies increased by 9.32 percent in 2017, compared to 2016. Higher borrowing, however, can be attributed to a timid credit expansion by Greece’s thrice-recapitalized banks in 2017, after years of extremely tight lending policies.
According to data released by the Beta AXEPEY firm, total cash reserves held by the 172 companies listed on the ASE reached 10.38 billion euros at the end of 2017, up from 9.64 billion euros at the end of 2016.