BUSINESS

HFSF sees Greek bank chip rebound in 2017

TAGS: Banking

Greek bank shares are likely to rebound strongly in 2017 after years of declines as the economy gets back on its feet and confidence returns, the head of the Hellenic Financial Stability Fund (HFSF) said on Wednesday.

“The very first signals will be seen from the end of next year, but I would expect the very strong change to be seen in 2017,” HFSF chief executive Aris Xenofos told reporters.

He said that “2016 will hopefully be positive, but I think the main difference will be actually seen in 2017.”

The banks’ capital adequacy ratio is now about 17 percent and is expected to rise to above 20 percent in 2018, Xenofos said.

[Reuters]

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