Greek Lenders Rise After Bank of Greece Unveils Salvage Plan
- Proposal envisages transfer of bad loans, tax credits to SPV
- Eurobank rises as much as 4.2% after reporting profit
A security guard carries a cash box from the central branch of the National Bank of Greece SA in Thessaloniki.
Photographer: Konstantinos Tsakalidis/BloombergThis article is for subscribers only.
Greek lenders recouped some of this month’s losses Friday after the Bank of Greece released details of a complex plan to lift much of the burden of their bad loans.
The Athens benchmark bank index rose as much as 3.6 percent after hitting a record low earlier in the week. Eurobank Ergasias SA, which reported a third-quarter profit on Thursday, rose as much as 4.9 percent, while Piraeus Bank SA gained 4 percent.