Hellenic Financial Stability Fund's equity stake in Greek banks worth 17 billion euros
Hellenic Financial Stability Fund on Friday said the value of its equity participation in the country’s four systemic banks has fallen to 17 billion euros, from 19.7 billion euros at the end of the first half of 2014 and 22.6 billion euros at the end of 2013.
In its six-month financial report, the Fund said it collected 40 million euros from bank clearings in the first half of the year (38 million euros from Achaiki Cooperative Bank and 2.0 million euros from T-Bank), while the Fund’s capital reserve was 10.938 billion euros.
Anastasia Sakellariou, chief executive of the Fund, commenting on the report said that the first half of 2014 “was a very active and constructive period for the Fund, with the successful completion of a second round of a recapitalisation of the four systemic banks which led to the banks’ further strengthening of their capital bases. Additionally, the Fund, in close cooperation with banks and authorities, finalised and approved banks’ restructuring plans.
The Fund will continue supporting banks’ efforts to improve the quality of their assets and safeguard their capital adequacy offering more value to their shareholders”.
