Greek banks return to favour as Piraeus and Alpha Bank's deals fly

By Nina Flitman
27 Mar 2014

In what bankers described as one of the most startling turnarounds since the years of financial crisis, Greece's Alpha Bank and Piraeus Bank this week completed capital raises totalling €2.95bn through accelerated offerings.

“Both deals are incredible testaments to the appetite for Greek banks, especially compared to the fact that two years ago nobody would touch them,” said one banker. “These were historically profitable banks, so some investors are looking at these names as potentially having high double-digit ROEs. Since the ...

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