Credit ratings agency Fitch on Monday raised the credit rating of three major Greek banks, Eurobank, National Bank of Greece and Alpha Bank, after upgrading the credit rating of Greece's economy to one notch below investment grade last Friday.

FitchRatings agency late on Friday upgraded Greece's economy one entire grade from BB- to BB, while Prime Minister Kyriakos Mitsotakis was wrapping up his visit to the 2020 World Economic Forum at Davos, Switzerland.

Fitch Ratings has announced that it doesn't necessarily expect Cyprus to consume its complete global bailout package, totalling €10 billion euros.