Piraeus Bank sees no material impact from audit

TAGS: Banking, Finance, Business

Greece’s largest lender by assets, Piraeus Bank, said Wednesday it did not expect any material impact on its capital and financial state as a result of an audit by the country’s central bank. “The bank clarifies that it does not expect any substantive impact on its financial and capital situation as a result of the Bank of Greece supervisory audit in relation with older compliance issues and internal procedures,” it said in a statement.

Shares in Piraeus Bank tumbled Wednesday on media reports that a central bank investigation had found some of the bank’s employees had been involved in regulatory violations. [Reuters]