- The four largest Greek lenders — National Bank of Greece, Eurobank, Piraeus Bank and Alpha Bank — will reenter the Stoxx Europe 600 when the index provider's reclassification of Greece as a developed market takes effect Monday.
- The upgrade comes about ten years after Greece was demoted to emerging-market status during its sovereign debt crisis, marking the end of that classification chapter for the country's banking sector.
- Index inclusion opens Greek bank shares to a new wave of investors, including passive funds tracking major indexes and active managers restricted to developed markets.
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“Greek bank stocks are set for another boost after staging a remarkable recovery since the country’s sovereign debt crisis, with the four biggest lenders rejoining Europe’s top benchmark on Monday.”
“Stoxx’s upgrade comes about ten years after Greece was cut to emerging status, and will open the door to a new wave of investors, including passive funds that track major indexes and active managers who are restricted to developed markets.”