National Bank of Greece
The decline of the stock of National Bank of Greece did not suffice to prevent the benchmark from climbing to a new 12-week high on Monday. The daily turnover reverted to high levels at the start of the week that might bring Greece once again to climbing the steps to investment grade as Fitch Ratings will issue its verdict on Friday.
National Bank of Greece announced a first-half profit after tax of €530 million Tuesday, slightly lower than the €546 million posted in the first half of 2022.
Core profit after tax stood at €508 million for the half, of which €288 million was in the second quarter, with return on tangible equity exceeding 16%, the bank said.
The banking sector shook off foreign and domestic concerns - related to the decline of US lender First Republic and the promise by main opposition leader Alexis Tsipras to nationalize National Bank of Greece if he comes to power - and swung to gains at the end of Wednesday's bourse session, leaving the benchmark with moderate gains.