Greece’s Eurobank says plans 3-bln-euro capital issue

Greek lender Eurobank announced on Friday, as expected, it planned to sell up to 3 billion euros ($4.1 billion) worth of new shares to plug a capital hole.

Eurobank, which is almost fully-owned by Greek bank bailout fund HFSF, has a capital shortfall of 2.95 billion euros, according to the results of a stress test of Greek lenders unveiled last month by the country’s central bank.

Eurobank shareholders were called to approve the plan in a general meeting on April 12, the lender said in a statement.