Foreign investors are showing strong interest in Greek banks, according to a JP Morgan note, despite their significant performance, with a -100% increase in the index since June 22, compared to -30% for the SX7P.
JP Morgan underlines that Greek banks are currently trading at 0.7x P/TBV and 6x P/E based on 2025 estimates, not far from the levels of European banks which are historically considered as a technical upper limit.
The three key factors accounting for this ongoing outperformance, according to JP Morgan are:
1) Demand for Greek assets remains high, as reflected in recent market transactions, with upward macroeconomic prospects, low domestic political risk, and positive catalysts.
2) Consensus earnings per share (EPS) expectations for banks continue to surpass a low starting point (+12% on average in 2024).
3) Greek banks appear to be -40% cheaper than their counterparts in CEEMEA (Central and Eastern Europe, Middle East, and Africa), the most relevant benchmark from an index perspective, which JP Morgan considers a significant technical support factor for the sector compared to mid-term valuations of European banks.
Source: tovima.com
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Greece’s Industrial Production Rises 5.8% in December
For the entire year, the average General Index of Industrial Production increased by 5.2% in comparison to the corresponding period in 2023.
Study Shows Athens Traffic Congestion Up
On average, car drivers and their passengers who venture out onto Greater Athens’ roads will spend roughly half an hour in the vehicle to cover a distance of 10 kilometers
Judge Blocks Elon Musk’s Team from Accessing Treasury Payment System
Judge blocks Elon Musk’s team from Treasury access over security risks and potential misuse of federal payment data.
Make Europe Great Again in Madrid
Far-right leaders rally in Madrid to 'Make Europe Great Again
Seismologists Cautiously Optimistic as Aegean Earthquake Activity Evolves
Seismologists grow increasingly optimistic as Aegean earthquake activity shows signs of decline
Earthquakes Continue to Shake the Cyclades, Experts Monitor Declining Activity
Ongoing earthquakes rattle Greece's Cycladic islands, but experts believe activity may be slowing.
Santorini Earthquakes Might Affect Greek Tourism Revenue: NBG Report
The areas directly affected by the tremors account for approximately 4% of both the country's annual tourism revenues and the total annual turnover in the accommodation and food service sectors
Greek Trade Deficit Surges to €34.6 Billion in 2024 Amid Export Decline
Conversely, numbers indicate that exports declined, totaling to 49.90 billion euros in 2024, down from 51.02 billion euros in 2023 marking a 2.2% decrease.
Culture Ministry Takes Action to Protect Santorini’s Antiquities
So far, no damage has been reported to the island’s cultural heritage, with exhibits already safeguarded. Meanwhile, the Greek Ministry of Culture held an emergency meeting on February 6.
How Many Tourists Visit Santorini Each Year?
As Santorini continues to shake with earthquakes, one big concern is what these quakes will mean for the island’s tourist season.
![Αεροδρόμια: Οι πιο δημοφιλείς προορισμοί για τους ξένους τουρίστες [γράφημα]](https://www.ot.gr/wp-content/uploads/2023/05/el.venizelos_aerodromio_680562846-1-90x90.jpg)
![Επενδύσεις: Πόσο στηρίζουν το ελληνικό ΑΕΠ – Τι δείχνει μελέτη της Alpha Bank [γραφήματα]](https://www.ot.gr/wp-content/uploads/2023/12/ot_artificial_ependyseis-600x352.png)
