Eurobank cuts amount of capital increase by 83 mln euros


Greece's Eurobank Ergasias said on Monday it would cut the maximum amount of capital that it is seeking to raise in a planned capital increase by 83 million euros to 2.039 billion euros.

The bank said in a statement that the European Central Bank had recognised 83 million euros of capital generation, therefore reducing its total capital shortfall.

Eurobank's order book for the institutional offering is expected to close on November 17, subject to possible acceleration, the bank said.

Eurobank is one of four Greek banks that are raising funds from investors to fill a combined capital shortfall identified by the ECB.