Greece’s lenders have enough bailout funds to cover any bad loans that may blight balance sheets in the future, according to the country’s central bank.
George Provopoulos, the governor of the Bank of Greece, was 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. A week later it will deliver the results for the loan portfolios of subsidiaries abroad.
(source: bankingnews, ibtimes)