The rating agency gives a positive vote in his report he published today (27.3.2024). The Greek banks, according to Moody’s, in 2023 benefited from the high interest rates on loans and low impairments thus presenting strong profits in the recent annual results of the four systemic banks, Alpha Bank (Ba1/Ba2 Positive, ba3), Eurobank (Baa3/Ba1 Positive, ba2), National Bank (Ba3/Ba1 Positive, ba2) and Piraeus Bank (Ba1/Ba2 Positive, ba3). The four banks were able to further reduce problematic loans and maintain comfortable funding and liquidity, the house says in its analysis. Problem loans converged closer to the EU’s average major banks. Non-performing exposures (NPEs) continued to decline during 2023, reducing the NPE weighted average index to approximately 4.1% from 6.2% in 2022 and the high of 49% in December 2016. The house, however, points out that in 2024, banks will face greater challenges in achieving a significant reduction in NPE due to high interest rates, although the downward trend is expected to continue.
Moody’s: Positive vote on Greece’s 4 systemic banks for 2023 performance
—
in Undertakings