Greek Lenders National Bank (National Bank) and Eurobank face nationalisation following the announcement that the planned merger of the two banks has been halted.

National Bank bought 84.3% of Eurobank in February 2013 with a view to absorb the bank.

Shares of both banks fell as the banks face nationalisation.

The central bank in Greece has been told that the two banks are unlikely to sell enough shares, 10% of their share offerings, to meet their capital needs.

The two bank’s boards will meet separately on Tuesday to discuss their recapitalisation.

Related articles:

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Cyprus banks to reopen with capital restrictions

Greece central bank rescues Proton Bank