Standard & Poor's raised the credit rating of four major Greek banks

Standard & Poor's announced it raised the credit rating of four major Greek banks – Alpha Bank, Eurobank, National Bank and Piraeus Bank, the Greek public broadcaster ERT, referring to the ANA- MPA. The bank rating changes from "CCC + / C" to "B- / B"

The decision follows the country's rating step by the agency at the end of June from "B" to " B + "

According to S & P," the success of the fourth review of the European Stability Mechanism program will help to strengthen the confidence of depositors and investors in the banking system ". The agency also notes that the risks to bank solvency are balanced and that improved liquidity and economic growth will increase the ability of Greek banks to meet their financial commitments and gradually improve their balance sheets to medium term, according to BTA

Standard & Poor's also said that building trust and easing capital controls will pave the way for a steady influx of deposits and improve access from banks to capital markets. According to estimates by the agency, about 13 billion euros, or 9% of deposits, were returned to Greek banks from mid-May 2017 to the end of May 2018 and banks reduced their reliance on liquidity. 63% or 36 billion euros. The agency predicts that these trends will remain and will continue to improve the liquidity position of banks

However, the rating agency expects a gradual recovery as the private sector suffers from the long and deep economic crisis in Greece. . As a result, the agency does not expect a full return of deposits withdrawn by banks from the end of November 2014 to the end of July 2015, which amounted to 49 billion euros.