Confidence vote from Fitch for the BoG stress tests

Confidence vote from Fitch for the BoG stress tests

The rating agency believes that the capital needs of Greek banks are manageable even with the worst-case scenario

Confidence vote from Fitch for the BoG stress tests
The recapitalization needs of the four systemic Greek banks are manageable and should be addressed without the need of a bail-in of senior bonds, Fitch notes.
The rating agency notes big deviations between the performance of the four banks in the stress tests and believes that Piraeus Bank and Alpha Bank are better positioned to face the challenges in raising capital.
According to analysts, banks will meet their needs through a combination of internal solutions and the raising of new capital, although some form of government assistance is possible.
Fitch believes that the FSF has resources of about 9 billion euros at its disposal and believes that it will participate in the capital increase of Eurobank, given the amount of capital the bank needs.
In the case of the National Bank, Fitch says that the needs of 2.2 billion euros will be covered by the sale of Finansbank (which has been strongly profitable despite being vulnerable to macroeconomic developments in Turkey) and internal measures.
Regarding the small Greek banks, Fitch believes they will meet their capital needs by merging with the systemic ones.
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