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Greek Banks at a Discount

11 July 2010 / 14:07:03  GRReporter
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pan style="color: black; padding: 0cm; border: 1pt none windowtext;">in September. Vassilis Rapanos reminded the parliament that the banking systems in all countries that adopt the IMF measures undergo dramatic changes. The Greek National Bank itself has taken advantage from this fact when in 2007 it purchased the Turkish Finansbank, when the Turkish economy was in the hands of the IMF.
    
According to the Athens Stock Exchange today, as calculated by the Katimerini newspaper, an investor may buy four Greek banks - Attikis, Genikis, Aspis and Protobank for €500m. If a wealthy investor has at his/her disposal €10b, they could easily buy the Greek banking giants together - National Bank of Greece, Alpha Bank and Eurobank EFG. However, recent reports by the investment bank JPMorgan warned investors not to rush buying Greek banks because they may not recover from the crisis.
Tags: Greek bankspricesstocksmarets
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