Greek banks need 6.4 billion euros, according to stress test

"To Vima" Friday, March 07, 2014

Bank of Greece published the results and findings of its stress tests on the Greek banking sector in 2013

According to the Bank of Greece’s 2013 stress test findings that were published on Thursday, the Greek banking sector will require 6.382 billion euros in capital.

The Bank of Greece’s report showed that Eurobank had the greatest deficit (2.945 billion euros), followed by the National Bank of Greece (2.183 billion euros), Piraeus Bank (425 million euros), Attica Bank (397 million euros), Alpha Bank (262 million euros) andPanellinia Bank (169 million euros). With these funds the banks will retain their Core Tier 1 capital above the 8% target ration for the baseline scenario, until the end of 2016.

The banks have been asked by the Bank of Greece to submit their plans to bolster their capital, based on the stress test results, by the 15th of April 2014. While the central bank has not set any dead lines, it has noted that all actions must be completed sooner rather than later.

The full stress test report is available (in English) here. http://www.tovima.gr/files/1/2014/03/06/stresstest.pdf

Source 

http://www.tovima.gr/en/article/?aid=574279