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Commission approves amended restructuring plans for Alpha Bank, Eurobank

The European Commission welcomed on Thursday the news Greek lenders Alpha Bank and Eurobank were able to raise capital to meet the shortfalls identified by the ECB’s stress tests solely through private investors and welcomed their amended restructuring plans.

“As a result, no state capital injections will be necessary,” the Commission said in a statement.
It has also found the amended restructuring plans of the two banks are in line with EU state aid rules and that the measures already implemented as part of the lenders’ existing restructuring plans, in addition to those envisaged in the amended plans, will enable Alpha Bank and Eurobank to return to viability in line with EU state aid rules.