Greece's NBG to stay private

The National Bank of Greece (NBG), one of the country's four main lenders, said on Thursday it had mustered the necessary capital increase to remain private.

"The minimum participation of the private sector in capital increase, as set by law, has been achieved," the bank said in a statement.

Details over the funds raised, which according to the bank exceed the necessary ten percent, will be provided at a later date, the bank said.

All four of Greece's main lenders -- that further include Piraeus, Alpha and Eurobank -- are in the process of recapitalisation, as part of the terms included in the country's international bailout deal.

A sum of 50 billion euros ($66.8 bn) from Greece's EU-IMF rescue loans has been earmarked for the recapitalisation of Greek banks, which suffered great losses after taking part in a write-down of privately-held Greek government bonds last year.

To avoid effective nationalisation, the banks are required to raise a tenth of their capital requirements from private investors.

The process is expected to be completed this month.

Earlier in June, Alpha Bank announced it had attracted sufficient private investment to avoid being nationalised.

Alpha needed a total of 4.57 billion euros and succeeded in raising 457 million euros, by placing shares with investors.

Auditors from the country's European Union, International Monetary Fund and European Central Bank creditors are currently in Athens monitoring the debt-laden country's progress in implementing the terms of its bailout deal.