Axia Alpha Finance forecasts earnings gains for Greece's top banks and OTE

Axia Alpha Finance maintains a positive outlook for several Greek banks, recommending a buy rating for Eurobank, National Bank of Greece, Piraeus Bank and Bank of Cyprus, with target prices of €5.30, €17.50, €10.60 and €11.60 respectively. The firm expects the banks to deliver strong profitability, with total net profit of €1.43 billion for the second quarter and a return on tangible equity of 15.4%.

For the telecom group OTE, Alpha Finance projects modest revenue growth to €868.5 million in Q2 2026, a 1.6% year‑on‑year increase, and an adjusted EBITDA of €342.6 million, up 2.8%. Drivers include continued expansion of FTTH, the rollout of fixed‑wireless access (FWA), migration from prepaid to contract customers, and growth in TV and ICT services. The analyst expects OTE to announce its Q2 and H1 results on 29 July, ahead of market opening.