Greek banks will need additional capital of 6.382 billion euro, Bank of Greece said on Thursday. specifically, Eurobank will need €2.845 billion, National Bank of Greece €2.183 billion, Piraeus Bank €425 million, Alpha Bank €262 million, Attica Bank €397 million and €Panellinia Bank 169 million.
“The additional capital requirements of Greek systemic lenders add up to 6.382 billion euros according to the results of the stress tests that BlackRock Solutions performed on the loan portfolios of National, Alpha, Piraeus, Eurobank, Attica and Panellinia late last year, the Bank of Greece announced on Thursday.
Using the basic scenario of the exercise, the central bank has calculated that in 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, by the activities to reduce capital requirements (such as the participation of the private sector in share capital increases, the sale of assets etc), and the unused funds of the Hellenic Financial Stability Fund.
The Bank of Greece has also asked lenders to submit up to April 15 their plans to strengthen their capital base according to the results of the test’s basic scenario.” (via ekathimerini) More details in Greek here
On Wednesday, Reuters reported of the recapitalization disagreement between the Bank of Greece and the country’s lenders the Troika.
“The Bank of Greece sees the top banks needing 5.8 billion to 6.2 billion euros ($8 billion to $8.5 billion) in extra capital after the stress test but the troika of international lenders has put the need at 8-8.5 billion euros, a source close to the talks has told Reuters.”