Bloomberg News

Greek Banks Get 20-Day Extension to Report Earnings for 2011

March 29, 2012

Greek banks got an extension of the deadline to report full-year earnings, to allow them to fully account for losses from a debt swap and additional provisions following a review of loan portfolios.

Banks must report their earnings by April 20, according to a legislative amendment passed by parliament yesterday and posted on its website. They had originally been required to report their 2011 earnings by March 31.

Private bondholders agreed to erase 100 billion euros ($133 billion) from the nation’s 206 billion euros of investor-held debt earlier this month as part of a second financing package for Greece.

To contact the reporter on this story: Antonis Galanopoulos in Athens at agalanopoulo@bloomberg.net

To contact the editor responsible for this story: Tim Quinson at tquinson@bloomberg.net


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