Value of HFSF's shareholdings in core Greek banks sinks to 18.5 bln

EconomyBanking Tags: Banking, HFSF

The recent publication of financial statements for the first quarter of 2014 by Greece's bank rescue fund,  the Hellenic Financial Stability Fund (HFSF), revealed a profit of 1.45 billion euros for the period in question. However, the value of HFSF's shareholdings in Greece's core lenders has dropped dramatically.

The amount reported HFSF's Q1 financial statements is attributed to accounting gains (unrealized capital gains) of 1.43 billion from bank holdings and warrants.

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