Prime Minister Kyriakos Mitsotakis put an end to the scenario of imposing an extraordinary tax on bank profits.
The prime minister, who is “present” at the Morgan Stanley and Athens Stock Exchange conference held in London, reportedly said in a private meeting with investors: “The government knows what it wants from the banks and has the means to implement it. Extraordinary taxation of banks is not among them.”
This information triggered a very strong rally in banking shares on the Athens Stock Exchange. During Monday’s session, the index shot up by more than +3% and returned to 1,185 points, putting a “brake” on the recent liquidations, which had led to as low as 1,150 points (a 10-month low).
Banks’ performance
Eurobank jumped +4.4% to 2.08 euros, National Bank rose +3.0% to 6.86 euros, Piraeus Bank +3.1% to 3.57 euros, and Alpha Bank +2.7% to 1.50 euros.
In fact, the strong rally was accompanied by an impressive turnover, given that shares worth 14.6 million euros changed hands in two hours.
Alpha Bank presented the highest turnover with 9.3 million euros, while Piraeus Bank followed with 5.4 million euros. National Bank and Eurobank registered transactions worth 4.2 and 3.8 million euros, respectively.
