Signs point to capital needs of 5 bln euros for systemic banks
By Yiannis Papadoyiannis
Consultations between the Bank of Greece (BoG) and officials from the countryís systemic banks started on Thursday on the conclusions of BlackRockís stress tests on the local credit sector, with the bank officials saying that the early signs point to additional capital requirements adding up to 5 billion euros.
According to sources, the Bank of Greece has presented officials from National, Alpha, Piraeus and Eurobank with the preliminary results of the exercise on their loan portfolios, and talks will continue in the coming days so that all pending issues can be closed and the final bill be announced before the representatives of the countryís creditors leave next week.
So far only Eurobankís needs have been made known, as the lender is preparing for a share capital increase of between 2 and 2.5 billion euros.