Greek Banks Contain COVID-19 Impact to Date, but Downside Risks Loom
DBRS Morningstar has released a commentary discussing the impact of the COVID-19 pandemic on the financial strength of the Greek banks. In particular, we consider that impairment charges will remain elevated throughout 2020, reflecting both the impact of the COVID-19 pandemic and the inorganic disposal of NPL portfolios. In addition, the commentary discusses the potential risks on asset quality from the approximately EUR 18 billion of domestic loans under moratoria, even though asset quality deterioration appears contained to date due to the supportive policy response and the accommodative regulatory framework.
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