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BoC increases Core Tier 1 capital

Bank of Cyprus Pcl, the island’s biggest bank, said on Tuesday it boosted its Core Tier 1 capital 594 million euros after a capital-raising plan.

“The bank’s Core Tier 1 capital has increased by 594 million euros of which approximately 160 million euros relates to the exercise of rights and applications for pre-registration and 434 million euros relates to the acceptance of the offer to exchange Convertible Enhanced Capital Securities,” the Nicosia-based lender said in an e-mailed statement.

About 897 million new shares will be issued.

[Bloomberg]

ekathimerini.com , Tuesday March 20, 2012 (22:18)  
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