At the 5th OT Forum, themed “A New Era for Capital Markets,” analysts, economists, and institutional players emphasized the that the Athens Stock Exchange (ATHEX) is once again on the radar of international investors, highlighting its potential not only for returns but also as a savings tool for Greek households.
Panelists including Ilias Kantzos (CEO, NBG Securities), Ilias Tsirigotakis (Head of International Markets Strategy, National Bank of Greece), and Nikos S. Manginas (Chief Economist, NBG), discussed how capital markets can function as long-term savings mechanisms.
Kantzos stressed the need to teach younger generations the value of saving and improve financial literacy. He noted the importance of diversification and monitoring market trends rather than “putting all your eggs in one basket.”
Manginas addressed investor fear and risk aversion, noting the importance of offering the right tools to help individuals manage real risks. He highlighted the liquidity in Greek household deposits and suggested that long-term growth and wealth accumulation would come primarily from capital gains.
Tsirigotakis pointed out structural weaknesses in the Greek pension system, despite progress through professional pension funds. He compared it with other countries where institutional investors manage assets worth $63 trillion globally, emphasizing the need for stronger retirement-linked investment tools in Greece to address demographic challenges by 2060.
Spyridon Kyritsis, President of the Hellenic Association of Stock Exchange Members (SMEXA), and Christodoulos Aisopos, President of the Hellenic Fund and Asset Management Association, both discussed the signs of returning capital and investor interest.
Kyritsis noted signs of repatriated funds and a shift among younger investors toward online trading platforms. He emphasized the improved financial results of listed companies, predicting dividends could reach €5 billion this year—up sharply from near-zero levels in recent years.
Aisopos highlighted the growing presence of foreign investors on the Athens Stock Exchange. He noted that foreigners currently hold 75% of FTSE index capitalization, calling for “massive structural changes” to attract more domestic institutional and retail investors.
Giannis Neokosmidis, PhD, Director of Portfolio Management and Investment Advisory at Euroxx, pointed to the economic successes of recent years now reflected in the stock market.
He noted that ATHEX is up 19% in Q1 2025 and remains unaffected by U.S. market turbulence. “It’s not just about banks anymore. Utilities, industry, and consumer goods are now driving growth,” he said, adding that virtually no investor portfolio is now without some exposure to the Greek market.
Source: OT
