23 Dec 2012

Greek banks post nine-month losses

7:04 am on 23 December 2012

Two banks in Greece have posted losses for the past nine months. National Bank, the biggest lender in Greece, said it lost 2.45 billion euros and Alpha Bank said it lost 711.8 million euros.

Both banks participated in sovereign debt reduction measures this year. AAP reports they have requested recapitalisation funds of 2.3 billion euros and 1.6 billion euros, respectively.

NBG's operating income dropped 10% to 3.03 billion euros in the first nine months of the year and Alpha Bank's takings fell by 38.2% to 1.07 billion euros.

Greece's main banks are to receive 50 billion euros overall to restore their capital.

AAP reports an initial payment was made in May and another 16 billion euros in EU rescue money was disbursed on Wednesday.