Bank of Greece (BoG) Gov. Yannis Stournaras, himself an “old hand” of two institutional bailouts for the country prior to 2015, said the four Greek systemic banks are now more durable in the face of international financial instability, a direct reference to the recent collapse of SVB and “emergency” buyout of Credit Suisse.
In statements carried by the German financial daily Handelsblatt, the influential Greek central banker said financial institutions in the country have now recorded “significant progress” towards improving their balance sheets, and now retain “abundant liquidity thanks to an increase in deposits and access to wholesale markets.”
Stournaras, a former finance minister and commercial bank CEO, said Greek banks have also returned to profitability, as of 2022, and improved their capital adequacy to a level above regulatory requirements.
