Greek banks will proceed with the issuance of bonds, mainly Senior, amounting to 3 billion euros in 2024 against their MREL (Minimum Requirement for Equity and Eligible Liabilities) targets, which expire at the end of 2025.
In fact, as the climate is highly uncertain, banking circles pointed out that the credit institutions are not going to wait any further, but will accelerate part of these issues, since the country has received investment grade and this facilitates their borrowing from the markets.
By the end of 2025, the banks will have to proceed with MREL issues of approximately 6 billion euros, depending on the profits they will make.
As Greek banks are on the final stretch of meeting their targets and as representatives of the SRB (Single Resolution Board) who have the relevant responsibility continue to pressure the banks to move forward with their targets, sources underlined that the examination of the market is continuous and fruitful.
Besides, let’s not forget that banks – except for Eurobank which had concluded an issuance in early 2023 – all proceeded with relevant issuances in the third quarter.
The goal is for the MREL ratio to reach 27.5% by the end of 2025
