Hellenic Bank – Outlook Revised to Positive
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Summary
Ref: CY005 2 2 CRA00- 0 1 13 December 20 2 3
Hellenic Bank – Outlook Revised to Positive
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Long-Term Foreign Currency Rating (LT FCR ) and Bank Standalone Rating ( BSR ) Outlook of Hellenic Bank (HB) to Positive from Stable. At the same time, CI Ratings has affirmed the Bank’s LT FCR of ‘BB’ , Short-Term FCR ( ST FCR ) of ‘B’ , BSR of ‘bb’, and Extra ordinary Support Level ( ESL ) of Uncertain. HB’s Core Financial Strength ( CFS ) rating has been raised to ‘bb+’ from ‘bb’ .
The revision of the Outlook to Positive and the upward adjustment of the CFS rating reflect the Bank’s strongly improved net and operating profitability, reduced NPL ratio, and increased capital ratios in Q3 23. These factors together have strengthened HB’s credit loss absorption…