In the second edition of its monthly tracker, which analyzes industry data from the Bank of Greece, UBS notes that while corporate lending growth remains strong, December was a slower month.
Goldman Sachs downgrades Eurobank to "Neutral" from "Buy" due to its valuation, trading at 1x price-to-tangible book value (P/TBV).
Piraeus Bank remains NBG Securities’ top pick, as it is viewed as unjustifiably undervalued compared to its Greek banking peers.
Under the new tariffs, no fees apply to payments of obligations to the government, social security organizations, utilities, and insurance companies.
UBS highlights the positive trends in loans and savings and the financing cost, stressing corporate credit expansion acts as the driving force for the banking sector’s profit margins
Especially through IRIS, which is available via m-banking, it is possible to send up to 500 euros per day with no charges.
Greek banks face a €100M budget impact as new measures slash fees for remittances, bill payments, and ATM use.
Another key topic of discussion with investors was the upgrade of medium-term guidance for the 2025-2026 period by several banks.
Looking ahead to the next three years, Euroxx predicts that Greek banks will lead in dividend payouts, with distribution yields exceeding 10%.
Bank of America (BofA) recently increased its target prices for several Greek banks, with the target price for Eurobank raised to €2.84 from €2.76.
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
JP Morgan reiterated its analysis of DTCs, prompted by Piraeus Bank’s plan to accelerate their amortization.
Greek banks, it notes, are focused on mitigating the impact through strategic efforts like loan growth, increased fee income, and lower-than-anticipated deposit betas for 2026.
Through the issuance of new bonds recently, the banks have significantly improved their capital positions while at the same time reducing the average cost of servicing their obligations.
Alpha Bank, Eurobank, National Bank, and Piraeus Bank are the Greek banks likely to record historical highs in profitability, paving the way for even greater shareholder rewards in 2025, with 35% of 2024 profits expected to be returned.
In its report, DBRS analyzed Q1 results for the four major Greek banks—Alpha Bank S.A., Eurobank S.A., National Bank of Greece S.A., and Piraeus Bank S.A.
Axia, one of the foreign analysts, considers the dividend approval as a crucial step towards the normalization of Greek banks post the 2010-2015 crisis.
Greek banks received ECB approval to resume dividend payments after 16 years and a painful debt crisis.
DB attributes the robust performance to multiple factors, including significantly improved profitability and resilience, as well as enhanced market liquidity following the allocation of shares of the Hellenic Financial Stability Fund (HFSF).
Ratings firm considered the strictest of its peers, and the only one that still hasn't restored Greece's sovereign rating to investment grade