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NATIONAL BANK OF GREECE S.A.
Press Release
Results from the BlackRock excercise
The Bank of Greece informed NBG regarding its capital shortfall arising from the stress test which incorporated the results from the BlackRock exercise.
Regarding the domestic expected credit losses estimated by BlackRock, NBG is placed in a better position in relation to the market. It is worth highlighting that the capital needs announced by the Bank of Greece for the NBG Group, amounting to €2,183 mn, essentially arise from Finansbank, on the back of an extremely conservative stress scenario that was included in the baseline scenario of the exercise.
Following instructions by the Bank of Greece, by April 15, 2014, NBG will present a capital actions plan which will be implemented within a reasonable timeframe. This plan will address the capital needs without raising new equity capital.
Athens, 6 March 2014
