ECONOMY

Marfin Popular Bank submits capital enhancement plan

Marfin Popular Bank, the second-largest lender in Cyprus, said it submitted a capital enhancement plan to the country?s central bank.

The plan ?combines focused management actions as well as capital-raising initiatives that aim to shield and enhance the resilience of the bank given the ongoing market developments,? the Nicosia-based bank said on Friday in an e-mailed statement.

Marfin retained JP Morgan Ltd and Houlihan Lokey as financial advisers. [Bloomberg]