Traded in top Greek banks halted

Comment on this story

Greek stock market authorities have temporarily suspended trading in the country's two biggest banks following press reports that they are in merger talks.

Shortly before the decision, shares in top lender National Bank of Greece and its main domestic rival Eurobank were up 4.5 and 5.5

percent, respectively.

The banks contributed to strong gains being posted by Greek stocks. The bank sector was up nearly 10 percent, while the benchmark general share index rose 5 percent by late afternoon trading.

Greek banks are under pressure to merge after suffering severe damage from the three-year-old financial crisis and a massive writedown in the country's debt earlier this year.

Neither bank would comment on the reported talks.

An NBG official said a statement would be issued later Friday. - Sapa-AP

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines