Displaying items by tag: greek banks

Moody's proceeded with an evaluation of the Greek systemic banks, after the result of the elections of May 21. The key points that Moody's sees in the credit strengths of the banks are the significant reduction in each bank's problem loans, the increase in customer deposits and access to international capital markets, but also the stronger core earnings and the relatively low provisions that support the bottom line of banks' profitability.

An analysis by Goldman Sachs focuses on the reaction of banking stocks after the victory of New Democracy in the elections, pointing out that the shares of Greek banks strengthened by 13%, while bond yields took the opposite direction, with those of AT1 falling by 30 – 50 basis points and the senior preferred bonds by approximately 10 – 20 basis points.

Foreign ratings agencies offer reassuring reports concerning Greek banks, regarding the risks they face in the current period of turmoil in the international markets, after the bank bankruptcies in the USA and the contagion of the crisis in Europe, are continuous.