Tag: Eurobank

Fitch Upgrades Greece’s Major Banks, Reflecting Economic Optimism

“Fitch Ratings has upgraded Greece’s four major banks, signaling confidence in the country’s economic rebound. National Bank of Greece and Eurobank now sit at ‘BBB-’ with a stable outlook, while Alpha Bank and Piraeus Bank rise to ‘BB+’ with a positive outlook. The decision, announced on April 1, 2025, reflects Greece’s improving financial landscape and its edge over the eurozone, driven by investment growth and EU recovery funds.”

Athens Stock Exchange

Athens Exchange Hits 14-Year High – General Index Surpasses 1,630 Points

The Athens Exchange hit a 14-year high, with the General Index surpassing 1,630 points, driven by a strong banking rally and solid performance in the energy sector. Notable stock movements included Alpha Bank’s major transaction and significant gains for Eurobank and Metlen. Trading volume remained high, with turnover exceeding 375 million euros, reflecting strong market activity.

Alter Ego Media Makes its Debut on the Athens Stock Exchange

Alter Ego Media, Greece’s largest media group founded by Vangelis Marinakis, has officially debuted on the Athens Stock Exchange. The company’s IPO raised €57 million, far exceeding expectations with demand surpassing the offering by 11.9 times. The funds will support Alter Ego Media’s transformation into a leading Media Tech Group. On January 27, 2025, Marinakis rang in the opening of the stock exchange session, marking a significant milestone for both the company and Greece’s media landscape.

Eurobank Unveils Venture Banking Unit to Boost Innovative Enterprises

Eurobank has launched a new venture banking unit aimed at supporting fast-growing and innovative businesses. The unit will provide tailored financing tools, advisory services, and co-investment opportunities to startups, venture capital funds, and private investors, helping drive economic growth in Greece and beyond. Led by Deputy CEO Konstantinos Vassiliou and Head Roula Bachtalia, the unit underscores Eurobank’s commitment to fostering the innovation ecosystem.

Greece Concludes Bank Privatisation Efforts with National Bank Stake Sale

Greece has completed the re-privatisation of its banking sector by selling a 10% stake in the National Bank of Greece, raising €690 million to help reduce public debt. The sale, managed by the Hellenic Financial Stability Fund (HFSF), saw high investor interest, with oversubscription 12 times over. This marks the final stage of Greece’s effort to divest its stakes in major banks, signaling ongoing economic recovery after the financial crisis.

Fitch

Fitch Upgrades Greek Banks

The upgrades mainly reflect Fitch’s improved assessment of Greece’s operating environment (OE) to ‘bb+’. We expect the Greek economy to continue to outperform the eurozone average. Paired with falling unemployment and the deployment of the country’s Recovery and Resilience Fund, this should support banks’ ability to capture profitable business opportunities,” the credit ratings agency said.

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