Alpha Bank, Greece’s fourth-largest lender by assets, registered a gross profit of 6.3 million euros in the first six months of the year on increased operational revenues and decrease in provisions levels, Business Review reports.
Alpha Bank shares were 10.3% higher Wednesday.
Additionally, Greece’s third-largest lender by assets, Eurobank, stayed profitable for the second strait quarter after bringing in net earnings of 46 million euros, or $51 million, for the three months ended June, Reuters reports.
Eurobank shares surged 18.0% Wednesday.
SEE MORE: Greece ETF Surges Thanks to Debt Relief
The Global X MSCI Greece ETF includes a hefty tilt toward the financial sector. Financials make up 26.4% of GREK’s underlying portfolio. Among its top ten holdings, GREK includes a 11.7% tilt toward Alpha Bank, 3.9% to Eurobank and 3.7% to Piraeus Bank.
For more information on the Greek markets, visit our Greece category.
Global X MSCI Greece ETF