BUSINESS

Eurobank eyes top Core Tier 1 level in Greece

Eurobank chief executive Christos Megalou expressed certainty on Thursday that the lender’s share capital increase will be successfully completed very soon.

In a letter sent to the group’s employees, Megalou wrote: “The completion of the increase will not be the end of a cycle, but the start of a new one, with optimism and positive prospects from a privileged position for the full fruition of the job we are all offering. Eurobank will enjoy the highest Core Tier 1 capital adequacy ratio in the Greek banking system and the second-lowest ratio of loans to deposits, allowing for more maneuvering in lending.”

Meanwhile Bloomberg reported on Thursday that another core bank, National, is planning to sell senior bonds after the government returned to capital markets last week. The sale will take place after investor calls and a presentation in London next week, according to a person familiar with the matter who asked not to be identified before the deal is completed.

Online