Bank shares at the Athens Stock Exchange (ASE) were taking a beating on Wednesday morning, with double-digit percentage point losses just after noon local time.
Piraeus Bank’s share, for instance, was trading down by 23.17 percent just after noon; -17.24 for Eurobank; 12.72 percent for National Bank, and less so for Alpha Bank, down by 5.16 percent and non-systemic Attica Bank, down 7.45 percent.
The bank share sell off comes after a bearish session on Tuesday at the ASE, and is mostly attributed to the major non-performing exposures (NPEs) burdening banks’ results and prospects.
