Fund inflows due at NBG and Eurobank
MSCI has upgraded two systemic lenders, Eurobank and National Bank, to the main index for Greece, from which they had been demoted last November after the decline in their capitalization in 2018.
The MSCI index restructuring, announced at midnight on Monday Greek time, restored Eurobank and NBG to the MSCI Greece Index, joining OTE, OPAP, Alpha Bank, Jumbo, Motor Oil and Titan Cement. This means Piraeus is the only systemic bank to be left out. National and Eurobank are also back in the MSCI Global Standard Index.
According to analysts, this puts Greek banks back on the radar screens of major foreign funds that closely monitor the main MSCI indexes, and will lead to a considerable increase in flows to the two lenders, which according to international observers may reach up to 93 million euros for National and 141 million euros for Eurobank.
The upgrading of the two banks came after the considerable increase in their capitalization thanks to the strong rally the Greek banking sector has recorded since the historic lows seen at the end of January, amounting to 65 percent.
