Five major banking institutions passed the stress test on Friday, while ATE, a state controlled bank failed. “The Bank will proceed to a capital increase to cover future capital adequacy needs,” ATE officials said in a statement.
National Bank of Greece, EFG Eurobank, Alpha Bank, Hellenic Post Bank, and Peiraeus Bank pass the check of Europe’s banking sector.
These banking tests were conducted by Europe’s banking regulators on 91 European banks, including six Greek banks, to see how the institutions would do in the event of an economic slowdown.
“The Greek banks now have before them the famous stress tests,” Finance Minister George Papaconstantinou had said in a speech last Monday. “I am certain the banks will pass those stress tests unscathed.
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