Greek bank shares volatile after stress tests

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

LONDON (AP) — Greek banks have seen their share prices swing sharply, a day after the country's central bank said they need to raise billions of euros to plug holes in their finances.

Late Thursday, the Bank of Greece said the sector needs to raise 6.4 billion euros ($2.3 billion).

Piraeus Bank, Greece's biggest bank by market value, saw its share price fall 5 percent Friday after it said it is planning to raise 1.75 billion euros in new shares.

Eurobank saw its share price fall the same rate after it said it was looking to raise 2.95 billion euros. However, National Bank of Greece saw its share price rise 1.5 percent as it said it won't raise money to meet the 2.2 billion-euro hole estimated by the Bank of Greece.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business & Tech stories

Related topics

Business & Tech
The Associated Press


    Catch up on the top news and features from, sent weekly.
    By subscribing, you acknowledge and agree to's Terms of Use and Privacy Policy.

    KSL Weather Forecast