Wednesday November 26, 2014 Search
Weather | Athens
13o C
8o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Banks' capital needs add up to 6.4 bln euros, says BoG

By Yiannis Papadoyiannis

The additional capital requirements of Greeces lenders total 6.382 billion euros, according to the results of the stress tests that BlackRock Solutions carried out on the loan portfolios of National, Alpha, Piraeus and Eurobank along with five smaller lenders late last year, the Bank of Greece announced on Thursday.

The needs of Greeces lenders are estimated as follows: 2.945 billion euros for Eurobank, 2.183 billion euros for National, 567 million euros for Attica Bank, 425 million euros for Piraeus, 262 million for Alpha and 169 for Panellinia, while the three other banks (all of which are smaller than the others) will need no additional funds.

On Thursday Piraeus announced it will initiate a major share capital increase of 1.7 billion euros, while Alpha is expected to announce its own increase on Friday, likely to amount to 1 billion euros. National, on the other hand, stated it will cover its requirements without a share capital increase. Piraeus also announced profits of 2.53 billion euros for 2013.

Using the baseline scenario of the exercise and using the 8 percent capital adequacy ratio, the central bank has calculated that under normal conditions of economic uncertainty, the capital needs of banks up to December 2016 will be covered by the reserves already factored in the test, activities to reduce capital requirements (such as private sector participation in share capital increases, asset sales etc), and the unused funds of the Hellenic Financial Stability Fund.

The Bank of Greece has also asked lenders to submit their plans to strengthen their capital bases by April 15. BoG sources said that the plans should be implemented as soon as possible and that the issue is being negotiated between the government and its creditors, while banking sources said at least six months will be required.

The central banks much-anticipated report said that in the period from 2014 to 2016, local lenders will suffer losses of 50.24 billion euros from nonperforming loans in Greece, plus another 10 billion euros from bad loans issued abroad.

ekathimerini.com , Thursday March 6, 2014 (19:00)  
Debtors snap up offer for easier settlements
Belgium gas firm said to be eyeing DESFA
OLP approval paves way for investment in Piraeus
Airport tender exceeds expectations
Hundreds of migrants on crippled ship off Crete
Ships from Greece rushed to help after a crippled freighter crammed with hundreds of migrants floundered for hours Tuesday in gale-force winds and high waves in the Mediterranean Sea, offici...
Policemen suspected of working at Piraeus bar where shooting took place
At least three serving policemen are thought to have been working at the bar in Mikrolimano, Piraeus, where a 31-year-old man opened fire with an AK-47 early on Saturday, resulting in 15 peo...
Inside News
SOCCER
Atletico eyes last 16 berth against Olympiakos
Greek champion Olympiakos faces a tough task if it is to prevent last season's beaten finalist Atletico Madrid sealing its passage into the last 16 of the Champions League at the Vicente Cal...
SOCCER
EPO ends soccer suspension, Super League resumes
Soccer action will resume this weekend after the Super League convened on Monday, elected a new president and alternate president and sent a letter to the soccer federation that assures it t...
Inside Sports
COMMENTARY
Beware of the fallen idols
Akis Tsochatzopoulos, a legendary figure of the Greek socialist movement, a man who came very close to taking over the party that governed the country for half of the time following the fall...
EDITORIAL
The hard truth
The coalition government must tell the truth to the Greek people, even if this entails admitting to mistakes made over the last few months. The countrys citizens are fully aware of how cruc...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Hundreds of migrants on crippled ship off Crete
2. Atletico eyes last 16 berth against Olympiakos
3. Debtors snap up offer for easier settlements
4. Belgium gas firm said to be eyeing DESFA
5. OLP approval paves way for investment in Piraeus
6. Airport tender exceeds expectations
more news
Today
This Week
1. Anastasiades to undergo heart surgery in the US on Dec 4
2. Cargo vessel carrying hundreds of migrants adrift southeast of Crete
3. Trade deficit widens by 8.7 percent during Jan-Sept period, says ELSTAT report
4. Two police officers among 9 arrested for drug trafficking
5. Fraport, Copelouzos offer highest bid for Greek regional airports
6. Stop Mediterranean becoming vast migrant cemetery, Pope tells Europe
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Biden heads to Istanbul amid tension over Cyprus EEZ violation
3. Give Greece a chance
4. Every age has its collaborators
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Scientists expand excavation of ancient Amphipolis
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.