BUSINESS

Investors voice concerns over banks, growth

ELEFTHERIA KOURTALI

TAGS: Markets, Finance, Banking

Institutional investors appear reserved about Greece and Greek assets, despite the country emerging from its bailout program more than a month ago. This became clear at meetings between 31 Athens-listed companies and international funds and investment banks in London on Wednesday and Thursday in the context of the 13th Annual Greek Roadshow at the Mayfair Hotel.

Sources who participated in meetings between listed firms and funds said that the issue of Greek banks weighed heavily on this year’s roadshow, affecting investors’ attitudes toward Greek stocks in general.

“There is a climate of fatigue, more than last year, due to the banks, while interest varied depending on the company,” said an analyst who took part in the London roadshow.

Kathimerini understands that foreign institutionals focused on the banks’ plans to reduce their nonperforming exposures, as well as loan sales, online auctions and corporate and mortgage loan restructurings. Officials of the four systemic banks were subjected to pressure at all 40 group meetings with funds, being questioned on the growth prospects of the Greek economy and the ability of local lenders to meet the new and allegedly “ambitious” NPE reduction targets. The institutionals appeared particularly concerned about Greece’s growth prospects.
 

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