Fitch upgrades National Bank of Greece and Eurobank

Fitch Ratings announced on Tuesday it has upgraded the credit rating of the National Bank of Greece and Eurobank from BB- to BB, with a Stable outlook.

The upgrade, Fitch commented, reflects the structural improvement in profits thanks to the higher interest rates of the European Central Bank and the low interest rates on deposits, cautious risk management and the risk reduction strategy in the Greek lenders’ books.