Eurobank leads as Euroxx raises Greek bank price targets

Moody's confirmed Eurobank's Baa1 deposit and senior unsecured debt ratings, raising the outlook on deposits to positive. The bank's strong profitability, asset quality, and capital position support its credit profile, though Greece's Baa3 sovereign rating remains a constraint. Eurobank reported a 16.6% return on tangible equity in H1 2026, with €738M in net profit.

JP Morgan sees Greek banks entering a growth phase, forecasting 12% EPS CAGR for 2025-2028. It prefers Eurobank and Piraeus Bank, estimating 30% and 28% upside, respectively. Greek banks trade at a 10% discount to peers despite higher earnings growth. JP Morgan raised earnings estimates for 2026-2028, citing higher net interest income and fee revenues.

Morgan Stanley predicts international expansion for Eurobank and upgrades for Alpha Bank, citing liquidity, acquisitions, and growth prospects. Greek banks are trading at a 10% discount despite strong metrics, with Eurobank, Alpha Bank, and Piraeus Bank preferred for their high beta. Alpha Bank (target: 5.5 euros) expects revenue growth from acquisitions, while Eurobank (target: 5.4 euros) aims for 26% DPS CAGR. Piraeus Bank (target: 12.3 euros) is seen as a domestic-focused lender with strong f

Eurobank reported first-half 2026 net profit attributable to shareholders of €738m, up from €691m a year earlier, and adjusted net profit of €776m. The bank cited Cyprus as a core growth market, supported by merger integration, higher lending and deposits, and insurance deals. It also reported group assets €113bn, loans €58.1bn, deposits €86.4bn, and guidance for ~17% RoTBV in 2026.

Cyprus’ central bank said ECB policy shifts have changed Cyprus lending, with more longer-term fixed-rate mortgages reducing borrowers’ rate exposure. Eurobank reported €738m net profit for 1H 2026, including €231m from Cyprus. Cyprus posted a €420.3m fiscal surplus (1.1% of GDP) in 1H 2026. Shell agreed to sell BG Cyprus to MOL for up to $720m.

Eurobank reported €738m net profit for H1 2026, with adjusted net profit of €776m (+9.2% y/y). Cyprus contributed €231m adjusted net profit, down 7.7% y/y. The bank said loan book grew 10% annually and raised its 2026 EPS growth outlook to well above 10%, targeting near-17% return on tangible book value.