Provopoulos: Greek Banks Now Well Capitalised

Provopoulos, Governor of the BoG (credit: Wikipedia)

Greece’s lenders have enough bailout funds to cover any bad loans that may blight balance sheets in the future, according to George Provopoulos, the governor of the Bank of Greece.

Provopoulos was apparently referring to revelations yet to come from an imminent report by asset manager BlackRock into the financial health of the nation’s banks.

     “I cannot run ahead of the results of BlackRock’s report. But I can safely say that there is enough leeway to cope with any capital need,” he told financial website bankingnews.gr.

BlackRock will deliver its findings on lenders’ loan portfolios to the Bank of Greece on November 30, and according to news reports a week after this happens it is going to deliver the results for the loan portfolios of subsidiaries abroad.

(source: bankingnews, ibtimes)