The two banks are fully owned by the HFSF and a comprehensive strategy will soon be finalised on consolidating those banks that fall under the rescue fund’s control, as reported by Reuters.
Both the small lenders were split into two parts, the first secured with their deposit accounts and safe assets, while the remaining part was put into liquidation.
Proton bank operates 31 retail branches and at the end of March this year reported total assets of €3.8bn.
TT Hellenic Postbank has a network of 145 branches in 64 cities around Greece, and an alternative network of 845 allied Hellenic Post Branches.
The lenders are likely to be absorbed by any of Greece four banks, including National, Alpha, Piraeus and Eurobank.
Due to heavy losses from debt writedowns and bad loans, the four banks are to be recapitalised by HFSF, which is a private legal entity funded with €50bn from the country’s bailout package.
Requiring €27.5bn to boost capital, recapitalisation of the banks is anticipated to be complete by 14 June.
