Hellenic Bank raises 201 mln euros in new capital
NICOSIA – Cyprus’s Hellenic Bank has raised 201 million euros in new capital, covering the adverse scenario capitalization shortfall of Europe-wide stress tests in October.
The bank said its three major shareholders – Wargaming, Third Point Hellenic Recovery Fund and Demetra Investments – fully supported the rights issue.
Stress tests found a 105-million-euro gap in the capitalization of Hellenic under adverse conditions.
Hellenic said that the capital issue brought its common equity tier 1 to 12.8 percent.
It said the bank had the right to raise an additional 20 million euros in capital corresponding to unexercised rights before the end of January 2015 if necessary. [Reuters]
