NBG says most Greek banks can pass stress tests

Most Greek banks have adequate capital to pass upcoming EU stress tests, the chairman of the country's largest lender National Bank said on Wednesday.
European banks have to pass a second round of stress tests this year to show they have adequate capital to weather shock conditions.
"Greek banks, except ATEbank passed the stress test last year. All banks are now in better shape in terms of capital adequacy to face the new stress test that will take place soon, including ATEbank," Vassilis Rapanos told Reuters, correcting earlier comments to Greek lawmakers.
ATEbank was the only Greek lender to fail EU-wide bank stress tests last year. On Tuesday it announced the terms of a 1.26 bln euro rights issue aimed at boosting its capital.
The move is a further step by the state-controlled bank to deal with the country's huge debt crisis, which devalued its government bond portfolio and increased its bad loans.
The bank plans to issue 1.177 bln new common shares, 13-for-1 at 1.07 euros each, its board of directors said.