The International Evaluation Houses proceed to a positive report on the positive reports for the Greek banksthey give high rooms to rise bank shares from current levels and point out that the story of Greek banks is still attractive.
International and domestic investment agencies are giving a “vote” of confidence in Greek banks and point out that despite international challenges and uncertainties they continue to perform durable performance. Attractive valuations and increased dividends support the Greek banks’ investment story, UBS notes.
Greek banks’ shares continue to be attractive, according to Goldman Sachs, with positive estimates based mainly on: higher net interest revenue, dynamic dividend policy and satisfactory efficiency of equity.
The 4 largest Greek banks are currently among the EU’s most profitable EU, says Scope Ratings ratings and provides for two -digit yields in 2025 and 2026.
According to Axia Research, the four theme pillars of the next quarters, according to Axia, are:
- Durable net interest rate income as a basic profitability support.
- Credit expansion focusing on the real economy.
- Expanding revenue from supplies.
- Surplus capital, flexibility and goodwill strategy for shareholders.
Higher the bar
Despite the powerful rally recorded in recent months, Greek banks are attractive and with positive prospects, according to UBS. In terms of price to profit (p/e), Greek banks are still negotiating with significant discounts against the European average. OR UBS It sets up a ‘market’ and the prices are target for Alpha Bank for 3.15 euros, for Eurobank for 3.30 euros, for Piraeus for 6.70 euros and for the national team for 12.20 euros.
Despite the strong rise in the shares of Greek systemic banks this year, their valuations remain attractive, as noted by HSBCstressing that he expects a significant rise while making changes to the target prices he gives. The target price for Alpha Bank is increased to € 3.75, for Piraeus to 7.50 euros and for National to € 11.80 and for Eurobank to 3.30 euros.
OR Morgan Stanley He “votes” by Greek banks, pointing out the significant discount against European banks and points out that despite the strong rise of shares since the beginning of 2025 they remain cheap. It gives new prices: National at 12.64 euros, Eurobank at 3.53 euros, Alpha Bank at 3.35 euros and Piraeus at € 7.70.
Greek banks have a unique value story because of their values and momentum, says the German bank. After exceeding 2024 expectations with the powerful momentum of their results and excellent levels of lending and supplies, Greek banks will stand out in Europe on the basis of their growth, as their medium -term goals show, as they benefit from high profitability and gradual reduction. The house also awaits better refunds. Deutsche Bank for Alpha Bank increases the target price to € 3.35, for Piraeus to 6.65 euros.
Strong in the first quarter, in Discount the bank stocks are noted by Eurobank Equities. It gives Piraeus target price at € 7.32, for National at € 11.94 and for Alpha Bank at € 2.94, while noting that Greek banks have undergone those in the region since the beginning of the year, resulting in a remarkable discount.
The first quarter
The 4 systemic banks, in the first quarter of 2025, announced net profit of € 1,224 billion. (Alpha Bank 233 million euros, Eurobank 349 million euros, Piraeus 284 million euros and National with 358 million euros).
The net profits of the four systemic banks overcame analysts’ estimates and the significant increase in new loans, which marks a strong start in the new year. The strongest of the expected profitability reinforces excess capital, supporting the wider possibility of funds in the future and thus offers an important catalyst for further rising shares.
The circle of corporate faith remains a basic support for Greek banks, as the Bank of Greece data shows for April. Corporate grants recorded an annual increase of 14%, maintaining the momentum it described in the first quarter of the year ( +15.9% in January, +16.7% in February and +16.8% in March).
The results were supported by resistant interest revenue, tight cost control and the best of trading performance forecasts. Banks have reported resistant interest from interest in the first quarter despite interest rates. Overall interest revenue at the end of March at EUR 2.06 billion versus EUR 2.11 billion in last year’s quarter and EUR 2,172 billion in the 4th quarter of 2024.