Recapitalisation of Greece's four largest banks

29^th May 2012

On 28th May the four main Greek banks received 18 billion euros from the European Financial Stability Facility (EFSF) with a view to their recapitalisation. The Greek National Bank (BNG), the country's top bank, received 7.43 billion euros, Alpha bank 1.9 billion, Eurobank 3.97 milliards and the Piraeus Bank 4.7 billion in bonds, as had been decided by the Bank of Greece. These amounts are part of a package of 25 billion, paid in the form of bonds in April by the EFSF to the Hellenic Financial stability fund for the recapitalisation of Greek banks, after the losses of around 28 billion euros that they suffered due to the Greek debt restructuring operation in March.

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