Foreign investors turn their backs on Eurobank’s shares

The management of Eurobank raises the bar of the forecasts and expectations for the bank’s profitability and financial performance in the next three years, but this attractive package is not… selling out abroad. International firms and institutions do not share the extreme optimism of Eurobank’s managers and reflect this in their assessments of the bank’s stock, which is not their top choice in the Greek banking sector.

The share of Eurobank, which is a kind of “showcase”, is well-glamorized, with the… shiny wrapping of the upward course of the last few years, but it does not convince the… experts, at least to the extent that its management would give it. It is certainly recommended for purchase, like the other systemic banks, but it does not succeed in distinguishing itself as a top performer in the analyses and reports of international banks.

In fact, it is not even in the top three of the most attractive options for foreign investors, according to a recent UBS report. As the Swiss bank says, Ethniki is currently the most crowded bank among the four major Greek banks, followed by Alpha Bank after a recent large increase in so-called and… crowded investors. Piraeus Bank also remains relatively high on this index throughout this year.

The tail, according to UBS, in terms of attracting capital from investors – mainly foreign but also domestic – is Eurobank, for which it says that “we note that Eurobank’s rating continued to slide to lower levels around zero during the year, but recently recovered as the stock reacted positively to the announced acquisition of the remaining minority stakes of Hellenic Bank in Cyprus. However, it is still the least populous among Greek banks.”