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Alpha absorbs deposits of three cooperative banks

The Bank of Greece decided on Sunday to revoke the operating licenses of three cooperative banks and transfer their deposits to Alpha Bank, thereby strengthening further the capital base of the strongest systemic bank in the country.

The central bank found that the cooperative banks of Western Macedonia, Dodecanese and Evia failed to gather the necessary funds for their strengthening and after the expiry of three deadlines the Bank of Greece revoked their license.

On Friday the BoG started a tender process for the deposits which was won by Alpha. The latter made it clear in a statement on Sunday that the transfer concerns only the deposits of the three banks and not any other liabilities or assets of theirs.

On the contrary, three other cooperative banks, those of Epirus, Serres and the Peloponnese secured a satisfactory capital adequacy index by collecting new funds.

ekathimerini.com , Sunday December 8, 2013 (22:11)  
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