Greek Banks Need to Raise 6.38 Billion Euros, Central Bank Says
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Greece’s lenders need to boost their capital by 6.38 billion euros ($8.84 billion) after six years of recession and the country’s financial crisis left them with swelling bad loans, the central bank said.
National Bank of Greece SA, the country’s biggest lender, needs to raise 2.18 billion euros, according to an e-mailed report by the Athens-based Bank of Greece today. Piraeus Bank SA, the second-largest, has a shortfall of 425 million euros, while Eurobank Ergasias SA, the No. 3, needs 2.95 billion euros and Alpha Bank should raise 262 million euros, bringing the total needs of the country’s four biggest lenders to 5.82 billion euros.