Fitch rating on Hellenic Bank

Fitch Ratings affirmed Hellenic Bank (HB) Long-term Issuer Default rating (IDR) at
'BBB', while the Outlook for its Long-term IDR remained Stable. In Fitch's view, HB's asset quality may come under more intense pressure in 2009 as a result of a slowdown in the global economic environment, which will lead to a lower domestic loan growth and greater financial stresses on retail customers. Fitch expects HB's profitability to be weaker next year due to a more challenging economic environment, which will result in smaller business volumes in 2009 while potentially having to absorb larger impairment charges.