ECONOMY

Greek bank stocks tumble 10.5 pct, extend post-Brexit losses

Greek bank stocks tumble 10.5 pct, extend post-Brexit losses

Greek bank stocks plunged 10.5 percent on Monday, extending Friday's nearly 30 percent fall, as pressure on the European banking sector continued after Britain's decision to leave the European Union.

The Athens bourse's banking index was underperforming the broader Greek equities market which was down 3.03 percent.

Shares in Piraeus Bank, Greece's largest lender by assets, were losing 7.4 percent, with Eurobank down 12.6 percent.

European bank stocks also extended post-Brexit losses on Monday, putting the sector on track for its worst 2-day drop ever. [Reuters]

Banking Stocks
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