Moody’s affirms Eurobank ratings and upgrades deposit outlook to positive following Greece’s sovereign rating boost
Moody’s Investors Service confirmed Eurobank’s Baa1 long-term deposit and senior unsecured debt ratings this week, while upgrading the outlook on its deposit ratings from stable to positive. The agency maintained the bank’s standalone Baseline Credit Assessment at baa3 and shifted the outlook on senior unsecured debt from negative to stable, reflecting improved credit conditions. This follows Moody’s recent positive outlook adjustment on Greece’s sovereign rating, which continues to influence the bank's assessment.
Eurobank’s strong profitability, high asset quality, and robust capital position underpin Moody’s confidence in the bank, despite constraints imposed by Greece’s sovereign risk. The bank reported a 16.6% return on tangible equity in H1 2026, with diversified earnings from its subsidiaries in Cyprus and Bulgaria, which accounted for 46% of group net profit. Cyprus operations contributed €231 million to net profit, while Bulgaria's profits increased by 7.8%.
Moody’s highlighted Eurobank’s solid liquidity and capital ratios, with a Common Equity Tier 1 ratio of 15.4% well above regulatory requirements. The positive outlook signals potential upgrades contingent on Greece’s rating improvements and Eurobank’s continued financial stability over the next 12 to 18 months. However, risks remain from possible asset quality deterioration or capital weakening.
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