Credit expansion underpins bullish outlook for Greek banks

The resilience of the Greek economy remains a key pillar of the positive investment narrative for Greek banks, according to a new report by Jefferies, which maintains a buy recommendation for Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank.

The investment bank said Greek banks operate in one of the most attractive macroeconomic environments in Europe, adding that they continue to trade at a discount of around 15 per cent versus the wider European banking sector, which it sees as...