Greek banks' capital needs estimated at 6.4 bln euros

In a report, presenting the results of a stress tests round conducted by BlackRock on the Greek banking system, the central bank said that under reasonable levels of economic uncertainty, the estimated capital needs for the time horizon of the exercise (June 2013-December 2016) will be covered by capital buffers already incorporated in the exercise, banks’ mitigating actions (e.g. private sector participation in future capital increases, Deferred Tax Assets allowance, potential assets sale, etc.) and the untapped part of the Hellenic Financial Stability Fund’s backstop facility according to ANA-MPA

Furthermore, the Bank of Greece asked banks to submit, within a reasonable time frame – at the latest by mid-April - their capital enhancement plans and relevant timeline on the basis of the capital needs under the baseline scenario.

More analytically, the capital needs of National Bank are estimated at 2.183 billion euros, Eurobank’s capital needs at 2.945 billion euros, Alpha Bank’s capital needs at 262 million euros, Piraeus Bank’s capital needs at 425 million euros, Attica Bank’s needs at 397 million euros and Panhellenic Bank at 169 million euros.