Moody’s on Tuesday upgraded the outlook of deposit ratings of Alpha Bank, Eurobank and National Bank to ‘positive’ from ‘stable’, with the long-term deposit ratings currently standing at Caa1, ANA reports.
The credit rating agency also upgraded Eurobank’s and National Bank’s CRA to B1 from B2 and reaffirmed all other credit ratings of all three lenders.
“Today’s rating action is primarily driven by our expectation of further improvements in asset quality, funding and profitability in 2019-2020, benefiting from a more supportive operating environment,” Nondas Nikolaidis, senior credit officer said.
“A recent change in government in Greece was likely to speed up growth-friendly economic policies, helping banks to implement their strategic plans and improve financial performance,” Moody’s added.
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