Greek Banks

Greek Banks

Greek banks benchmark index rises as much as 7.9%, most since Sept. 28, with the first e-auction of foreclosed property set to take place in a matter of hours.

  • Today’s launch of e-auctions alleviates worries that banks shall struggle to meet their NPE reduction targets; stokes optimism they will begin addressing the moral hazard of strategic defaults.
  • Eurobank, Piraeus lead gainers among four systemic banks; Eurobank +10%, Piraeus +7.7%, Alpha Bank +6.5%, National Bank of Greece +5.3%