ECONOMY

Eurobank board to meet Tuesday on share capital increase as NBG merger is put on hold

Eurobank’s executive board is to meet on Tuesday in the wake of the announcement that the lender will not be merging with National Bank but will be recapitalized separately.

The Bank of Greece ended speculation about the lender’s immediate future on Sunday night by releasing a statement saying that National Bank and Eurobank would remain separate entities ahead of their recapitalization by the Hellenic Financial Stability Facility.

Eurobank’s board will meet to decide on how to proceed with an increase in share capital.

The recapitalization is due to be completed before the end of this month.