Greek bank recap needs seen less than 20b euros: bankers

The recapitalisation bill for Greece's four main banks will be lower than 20 billion euros (S$31.5 billion), two senior bankers with direct knowledge of the matter said on Tuesday. 

PHOTO: REUTERS

OCT 20, 20154:04 PM

[ATHENS] The recapitalisation bill for Greece's four main banks will be lower than 20 billion euros (S$31.5 billion), two senior bankers with direct knowledge of the matter said on Tuesday.

National Bank of Greece, Piraeus Bank, Alpha Bank and Eurobank are now undergoing stress tests by the European Central Bank to define capital needs, depleted by a mass deposit withdrawals earlier this year and a mountain of non-performing loans. "The capital shortfall for the four systemic banks should be less than 20 billion euros," one of the senior bankers told Reuters, declining to be named.

The ECB declined to comment.

REUTERS