ECONOMY

Shareholders of Greek Piraeus Bank approve recap plan

Shareholders of Greece’s second-biggest lender Piraeus Bank approved the lender’s recapitalization plan on Tuesday.

“We have already raised 570 million euros and our target is to also collect the remaining part, to 733 million euros, so that we won’t need to issue any contingent-convertible bonds,” the bank’s chairman Michael Sallas told shareholders.

“My feeling is that we will make it,” Sallas added. [Reuters]