National Bank plans to absorb European banks (EFGr.AT) formed the largest banking groups in Greece will be suspended until the capital reorganization, a state-owned bank support fund will decide whether we should merge, Treasury officials said Sunday.
Countries to acquire 84.3% of the European banks, the share swap and absorb part of the deal with the aftermath of the Greek debt crisis and deep recession broader integration of the banking sector in February.
But the plan expressed concern lender "troika" - the European Union, the European Central Bank and the International Monetary Fund Organization (IMF) - combined, will form a bank is too large, relative to the gross domestic product of Greece.
"The the combined final decision will be taken by the Greek Financial Stability Fund (HFSF) officials, who asked not to be named, told reporters.
Together, these two banks need 15.6 billion euros of new capital to shore up their solvency ratio level set by the central bank losses and impaired loans from sovereign debt writedowns.
Capital restructuring plan, agreed to by Greece's international lenders, the fresh capital will provide HFSF, a state-owned bank support funds in exchange for new shares and convertible bonds.
Stay private, the bank must ensure that at least 10% of the share by private investors.
"The two banks sent a letter to the central bank said, this is not possible, they will be able to increase by 10% from the market," the official said.
This means that banks will fall under the full control of the HFSF bailout fund.
The official also confirmed the earlier two bankers told the Reuters reporter: two banks will recapitalize.
The HFSF will decide whether they will continue to integrate their capital structure adjusted.
"I do not want to pre-HFSF's decision," the official said.
Countries in the European bank's equity will be severely diluted as a result of the recapitalization, analysts expect the bank shares subject to heavy selling pressure on Monday.
Takis Zamanis Beta Securities chief trader in Athens: "discounted market segments such an outcome, but did not expect so soon and I look forward to their shares fell sharply on Monday decided to suspend the merger should take.
 



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