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greek banking stocks remain attractive ahead of 2024 earnings season

UBS remains optimistic about Greek banking stocks as the 2024 earnings season approaches, starting with Piraeus Bank on February 24. Investors are keen to see if banks will maintain or upgrade their net interest income projections for 2026 and how they will balance cash dividends with share buybacks.Despite a slowdown in corporate lending growth in December, overall trends in private sector credit remain strong, with a year-on-year growth rate of 4%. The reduction in non-performing exposures is also noted, contributing to a solid outlook for the sector.

uniCredit and Commerzbank report earnings amid ongoing merger discussions

UniCredit and Commerzbank are engaged in a potential takeover battle, with UniCredit reporting an 8% rise in net profit to €2.5 billion, while Commerzbank's profit fell 6.2% to €642 million. Commerzbank's CEO expressed openness to discussions about a merger, contingent on a proposal from UniCredit, as the German government remains cautious about the deal.
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