Greece’s Piraeus Bank Fails to Raise Enough From Private Investors

Capital shortfall determined through ECB stress tests for the Greek economy

The Wall Street Journal

By STELIOS BOURAS and  NEKTARIA STAMOULI

Nov. 22, 2015 8:06 a.m. ET

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ATHENS—Greece’s second-largest lender by assets, Piraeus Bank SA, said Saturday that it didn’t manage to raise all the funds needed from private investors following capital shortfalls outlined by the European Central Bank in October.

This means that Greece’s bank rescue fund will need to prop up Piraeus and Greece’s largest lender, National Bank of Greece SA, with at least €6.3 billion ($6.7 billion).

Greece's Piraeus Bank reaches deal to buy Geniki: sources

By Lefteris Papadimas and George Georgiopoulos

ATHENS | Tue Oct 2, 2012 2:42pm EDT

(Reuters) - Greece's Piraeus Bank (BOPr.AT) has struck a preliminary deal to buy French lender Societe Generale's (SOGN.PA) loss-making Greek unit Geniki (GHBr.AT) to strengthen its position amid a brutal debt crisis, two sources close to the talks told Reuters.