Citigroup affirms neutral stance on Greek banks


Citigroup has affirmed its neutral stance on the Greek credit sector after the publication of local banks’ second-quarter financial results, thereby making no change to the target prices it had announced in its previous report in early August.

Citi stressed the strong results of Alpha and National, and praised Piraeus Bank’s continuing reduction of its nonperforming exposures (NPEs), as well as the improvement of its capital adequacy.