National Bank reported to have made its recap target

Sources say that National Bank of Greece has already covered the 10 percent of its share capital increase required to come from private investors for the country’s oldest lender to avoid nationalization.

A significant flow of capital has been recorded in the recapitalization process in recent days, mostly through stockbroking companies.

The management of National Bank is now aiming for a 12 percent share to be covered by the private sector so that it will not have to resort to the issuing of convertible bonds (CoCos).