Hellenic Bank has had a significant lower exposure to Greek government bonds and already proceeded to exercise a 21% haircut on its holdings of 110 mln euros in July, the bank’s CEO Makis Keravnos told a media briefing last week.
“Our liquidity is very high with a loans-to-deposits ration of 67% and in accordance with the Bael II requirements, we will not need any capital increase by next June,” Keravnos said.
The bank’s exposure to Cyprus government bonds will be announced in the 9-month results at the end of November, he said.
Antonis Rouvas, the bank’s CFO, said the current balance sheet is “very healthy” with loans in the first half of the year totaling 5.03 bln euros and deposits at 7.5 bln.
“This means we will not require any intervention from the Central Bank,” Rouvas said.
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