2013-01-27 15:09:56 -
Banking sector in Greece in recent years has received a heavy blow from the combined effects of restructuring of Greek debt and unfavorable economic conditions for the banks’ assets and deposits.
Bank of Greece estimated that the capital requirements of Greek banks over the period 2012-2014. and prepared a “Report on the recapitalization and restructuring of the Greek banking sector,” which describes the first impact on the capital requirements of banks: (a) a debt restructuring involving the private sector, (b) the expected loss of the credit risk for loans from 2012-2014 Greece, as calculated by the independent decisions of BlackRock, (c) the expected losses on loans to foreign loans and entities associated with the state, and (d) the estimated operating
profit of the banks, based on a conservative point of view on the business plans submitted by banks Bank of Greece in the first quarter of 2012.
In addition, the report on the calculation of the financial resources required to meet the needs of recapitalization and restructuring costs in the Greek banking sector. In February 2012 the assessment of funding was € 50 billion. In December 2012, the Bank of Greece, will count data received during the year for all of its financial resources, confirming their adequacy.
The main objective of the overall strategy is to provide reliable and adequate capitalization of the banking sector, which will gradually restore confidence of investors and markets. Improving capital position and liquidity of Greek banks will make a significant contribution to the financing and recovery of the real sector of the economy.
For more information about Greek banks please go to banksgreece.com/banks