ECONOMY

Piraeus Bank confident it can plug shortfall

piraeus-bank-confident-it-can-plug-shortfall

Piraeus Bank, Greece’s second-largest lender by assets, is confident that its plan to plug a 4.93-billion-euro capital shortfall revealed by the European Central Bank’s health check will succeed, its chief executive said on Sunday.

“Apart from the ongoing liability management exercise, the bank’s capital-boosting plan involves raising funds from private investors and other actions,” CEO Anthimos Thomopoulos said.

“Based on our recent contacts with international institutional investors, we are convinced that our plan can be concluded successfully in a short timespan,” he said.

[Reuters]