Skip to content
Subscriber Only

Greek Banks to Post Writedowns as Investors Face Wipeout

Greek banks, which are predicted to start reporting third-quarter losses today, may also disclose bond writedowns as they tussle with the government over terms of a debt swap related to the nation’s bailout package.

Alpha Bank SA, Greece’s third-biggest lender, may post a loss of 14 million euros ($18.6 million) after markets close, according to the median of seven estimates in a Bloomberg analyst survey. That compares with a 37 million-euro profit in the year-earlier quarter. National Bank of Greece SA, the nation’s biggest, may post a loss of 99 million euros tomorrow versus a 113 million-euro profit, an analyst survey shows.