Greek Banks See 100mln Hit from New Budget Measures
Greek banks face a €100M budget impact as new measures slash fees for remittances, bill payments, and ATM use.
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GREEK BANKS
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Greek Banks See 100mln Hit from New Budget Measures -
S&P upgrades rating of five Greek banks
S&P upgrades rating of five Greek banks
S&P upgraded the long-term credit rating of National to BB+ from BB, keeping the short-term credit rating at B and the outlook positive. The upgrade reflects the bank’s improved financial and financial outlook, which has reduced its nonperforming exposure (NPE) ratio to 3.7%, with provision coverage reaching a high of 85%. S&P estimates that the NPE ratio will further decline to below 3% by end-2025, so the cost of risk is forecast to decline to close to 50 basis points by the end of 2026 from 95 bp at the end of 2023.
