NBG to seal share capital increase

The general meeting of the National Bank of Greece has been postponed until June 1, and not later, opening the way for the increase of the bank’s share capital and the completion of the acquisition of Turkey’s Finansbank. Yesterday the representatives of NBG’s social security funds asked for a postponement of the meeting by just a few days. That could have called for a delay of 30 days that would have derailed the timetable for the agreement’s realization. The NBG chairman, Takis Arapoglou, made no secret of his satisfaction with the June 1 date. He has briefed the bank’s shareholders and plans to brief Parliament soon, too. Bank officials said workers have no margin for maneuvering. This means that next Thursday will see the crucial decision made about the share capital increase that is expected to reach 3 billion euros. Sources told Kathimerini that the management’s aim is to receive all the approvals required within the first 10 days of June, so that the increase can begin immediately after that.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.