Keefe, Bruyette & Woods Initiates Coverage of Greek Bank Stocks
What happened
Keefe, Bruyette & Woods has begun investment research coverage of Greek bank stocks, including National Bank of Greece. The firm noted that Greek banks are currently undervalued compared to their European peers regarding loan growth and return on tangible equity. The analysis forecasts an upside potential ranging from 6% to 20% for these stocks.
From bankingnews.gr
Why it matters
The coverage highlights that Greek banks command greater economic weight, currently at 75% of their market cap, compared to levels seen during the 2013 downgrade. The research suggests that the sector's loan growth is leading the industry, with National Bank of Greece noting a cost-to-income ratio of 30%.
From bankingnews.gr
Who's involved
- GreeceThe country whose financial institutions are the subject of the research.
- Keefe, Bruyette & WoodsThe US investment bank that published the research and forecasts.
- National Bank of GreeceA major Greek financial services company included in the coverage.
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The entities involved
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Greece
country in Southeast Europe
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Keefe, Bruyette & Woods
investment bank
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National Bank of Greece
global Greek banking and financial services company
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