Three Greek Banks Eye Acquiring Crédit Agricole's Greek Unit
Published Saturday, 30 June 2012 16:53 | Written by Amwal Al Ghad
Potential bidders for Emporiki have already asked the Hellenic Financial Stability fund for permission to use part of the €18bn of capital disbursed to the country’s four largest lenders in May as bridge capital to raise their capital adequacy ratio to 8 per cent so that they can regain access to European Central Bank funding.
The decision to sell Emporiki, Greece’s fifth largest bank by assets, comes as a blow to the new coalition government that took office last week pledging to keep the country in the euro zone and turn its economy around by 2014, Financial Times reported.
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