Banking index at ATHEX falls sharply amid NPLs, successor law gitters

Friday, 22 March 2019 19:10
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The banking index at the Athens Stock Exchange (ATHEX) nosedived on Friday, with bank shares taking sustained hits in the last two hours of the session, and finally closing down 6.22 percent. The general index fell 1.35 percent on the day’s trading, levelling out to 708 points on 49.33 million euros in turnover.

A still pending successor framework for protection of primary residences in the country from creditors and pressure by the SSM for systemic banks to reduce “bad debt” on their balance sheets caused the mini-crash for the banking index.

National Bank of Greece (NBG) suffered the biggest decline, falling 7.47 percent.

Only non-systemic Attica Bank escaped the “bears”, posting marginal gains.

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