Greek Banks Extend Gain as Greece Said to Seek NPE Plan Approval

18
Feb

Greek Banks Extend Gain as Greece Said to Seek NPE Plan Approval

Posted by Geore Anavaloglou / ΝΕΑ ΕΣΩΤΕΡΙΚΟΥ

(Bloomberg) —

Greek banks benchmark index hits fresh day highs as the government is said to have sent a plan for helping the country’s banks reduce their high stock of non-performing exposure to the European Commission for approval.

The gauge advances by 6.2%, heads for its best daily performance in more than two months; the plan, in which debt is unloaded into a special purpose vehicle which sells bonds to investors, is modeled on a similar one used in Italy
National Bank of Greece leads gains among four systemic banks, up by as much as 10.6%; it slightly pares gains to trade 10.3% higher at EU1.234, a level unseen since Jan. 10
Alpha Bank +5.8%, Eurobank +3.7%, Piraeus Bank +8.8%

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