Looking further ahead, the European Commission forecasts that GDP growth will moderate to 1.7% in 2027 as the Recovery and Resilience Facility (RRF) winds down.

Piraeus Bank improved its standing since holding a “BBB” rating at the end of 2020. It is now the only Greek company to hold an “AAA” grade.

JPMorgan highlights that the Greek bank’s shares continue to trade at a “cheap level,” below 7xP/E (price-to-earnings ratio).

Fitch also upgraded Piraeus’ senior preferred debt rating by one notch to “BBB-” from “BB” and its Tier 2 subordinated debt rating to “BB” from “BB-.”

Interest rates on term deposits in Greece fell sharply in June, easing bank costs but reducing returns for households and businesses

Pierrakakis condemned the practice by Piraeus Bank of selling ATMs to third-party operators who then imposed extra fees on bank customers.

UBS cautions that in the short term, the sector appears vulnerable to risk-off sentiment if broader geopolitical or financial issues emerge

Piraeus Bank raised €500 million from its foray into the markets on Tuesday via the issuance of its third green bond, with investors showing overwhelming interest. Demand reached €3.75 billion—more than 7.5 times the initial offering—highlighting strong investor confidence. As a result of this significant oversubscription, the bond’s yield was set at 115 basis points […]

With a one-day delay, Moody’s upgraded Alpha Bank and Piraeus Bank, following the recent upgrade of the Greek economy. The credit rating agency had already upgraded the other two systemic banks, National Bank of Greece and Eurobank, as well as Attica Bank, the previous night. Specifically, Moody’s raised the credit ratings of Alpha Bank and […]

Piraeus Financial Holdings S.A. announces that it has agreed to buy 90% of the Greek insurance company from CVC Partners Fund VII for €600mln.

Despite the sale, well-known investor John Paulson remains the largest shareholder of Piraeus Bank, retaining approximately 170 million shares, or 14% of the systemic bank lender

Greece’s real GDP in the first nine months of 2024 increased by 2.3% on a year-on-year basis

Greece showed improved performance but still lags behind the EU average

Three of the four bankers have already announced dividends for 2023's results, the first such distribution of profits after three successive bailouts

Notably, the bank is slashing fees for the IRIS payments interbank service by 50% for professional use.

Moody’s on Monday upgraded the Baseline Credit Assessment (BCA) for two Greek bank institutions, the National Bank of Greece (NBG) and Piraeus Banks, specifically raising Piraeus’ rating to ba2 from ba3, and NBG’s to ba1 from ba2. Moody’s also upgraded its long-term and short-term deposit ratings for both ATHEX-listed Greek lenders, two of the four […]

Proposal equals 0.063 euros per share and is up for approval by a Piraeus Bank general shareholders' assembly to convene in late June

Piraeus Bank has forecast profits of roughly 900 million euros this year, rising to one billion euros next year

The CEO of the HFSF announced that offers exceeded even their most optimistic estimates

This means that the HFSF will raise more than 1.3 billion euros with reports indicating that managers have already received orders exceeding nine billion euros.