Greek banking sector poised for substantial changes

Greek banking sector poised for substantial changes

 

The Greek banking sector is poised for substantial changes following Sunday΄s decision to postpone a merger plan between National Bank (NBG) and Eurobank and to proceed with separate recapitalizations, abandoning the aim of recapitalizing a unified group after completion of a legal merger in June.

According to AMNA, the four systemic banks in Greece will proceed with separate recapitalizations (Alpha Bank and Piraeus Bank have already started relative procedures and have called for general shareholders΄ meetings to approve share capital increase plans).