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Credit rating agency Moody’s today revised the outlook for the long-term outlook for deposits from five stable, positive Greek banks. Alpha Bank, of Attica Bank, of National Bank, of Pan-Cretan Cooperative Bank and her Piraeus Bank. In a statement, the company said it had confirmed the credit ratings of the five banks, adding that the main reason for the outlook change was that it was waiting for its strategic plans to be delayed to further improve the quality and profitability of its assets. in 2020 – 2021 due to the impact of its pandemic crown in the Greek economy.
According to the Chamber, the slowdown in economic activity due to the crowning will not only adversely affect the already weak earnings of Greek banks, but will also significantly complicate their ability to reduce their high unprofitable exposures (NPE). Supporting measures and supervisory mitigation will somewhat offset the adverse impact on the quality of your loans, he added. Moody’s.
Additionally, the house expects limited deterioration in bank capital, but predicts that it will remain at a higher level than the relaxed requirements of regulatory authorities. “The revised outlook also takes into account improvements in bank financing and liquidity, which are unlikely to be significantly affected by the pandemic,” the company said in a statement. Greek GDP will probably decrease by about 5% in 2020 and recover at a growth rate of 4% in 2021.
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