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Piraeus Bank’s Tier 2 Issue “Credit Positive” for the Greek Bank, Moody’s Says

18/02/2020 09:29

A successful issue of a Tier 2 notes from Piraeus Bank, worth 500 million euros, is credit positive for the bank, Moody’s said in an analysis released on Monday. The credit rating agency said that the Tier 2 note issue supported the bank’s capital adequacty rarising its capital ratio by around 110 basis points, while it also opened the way for achieving a strategic goal of significantly reducing non-performing loans in 2020 through securitization and diversified the bank’s funding sources.

The National Herald