ECONOMY

Piraeus Bank denies providing financing to recap investors

piraeus-bank-denies-providing-financing-to-recap-investors

Piraeus Bank did not provide any financing to investors to help them take part in its recapitalization late last year, an executive of the lender told analysts during a conference call on Wednesday.

“The bank has not provided financing or guarantees to assist capital raising," the executive said, after a report by the Financial Times that Piraeus was being probed by the European Central Bank’s Single Supervisory Mechanism following a shareholder complaint.

[Reuters]