Around half of Greece’s cooperative banks need recapitalization
Four or five out of the 10 cooperative banks operating in Greece face a liquidity problem and will need a recapitalization, Anastasios Lappas, chairman of the Cooperative Bank of Thessaly said on Thursday.
In comments made to the ANA-MPA’s ‘Praktorio 104.9 FM’ radio, Lappas said that the Cooperative Bank of Thessaly will not need recapitalization and announced that the bank will probably proceed with a share capital increase plan through a bond loan. Commenting on the other cooperative banks, Lappas said those in need of additional capital were currently drafting plans, while the remainδερ were seeking tools to boost their capital through internal procedures.
“Cooperative banks are not competitive. They operate without taking a single euro in state capital support. They were not included in the previous two recapitalizations and have survived,” he noted. Lappas stressed that cooperative banks “may be smaller, but healthier”.
You may be interested
Sample poll: Emmanuel Macron (23.7%) and Marine LePen (21.7%) to face off in second roundPanos - Apr 23, 2017
According to the first estimates from the exit polls, Emmanuel Macron wins 23.7% to Marine Lepen’s 21.7%. It is the…
Thomsen: Greece, institutions are close to a staff-level agreementilias1 - Apr 23, 2017
The Director of the International Monetary Fund's European Department, Poul Thomsen, expressed optimism on Friday that Greece and its lenders…
Ecumenical Patriarch Bartholomew to hold open leture in Geneva on April 24ilias1 - Apr 23, 2017
Ecumenical Patriarch Bartholomew will hold an open public lecture at the headquarters of the World Council of Churches in Geneva…