National Bank of Greece (NBGR.AT) is set to benefit from a combination of robust first-half performance and a more optimistic outlook for European Central Bank interest rates, according to a new note from Beta Securities.
The investment bank has upgraded its 2026 forecasts for the Greek lender, citing results that exceeded initial expectations.
The upgrade reflects both the bank’s operational strength in the first half of the year and the potential for higher net interest margins as the ECB’s rate trajectory remains supportive.
This development aligns with a broader positive trend for Greece’s banking sector.
The Bank of Greece recently upgraded its economic outlook, projecting growth of 2.0% in 2026 and acceleration to 2.1% in 2027 and 2028 under favorable scenarios.
A stronger macroeconomic backdrop supports credit growth and reduces provisioning pressures for domestic lenders.