ECONOMY

No plan for rights issue, says Alpha

Alpha Bank, Greece’s third-largest lender, said yesterday it has no plans to launch a rights issue and follow in the steps of peer National. ‘We have no plans for a share capital increase,’ the lender’s Chairman Yiannis Costopoulos told shareholders in Athens. Alpha is the third of Greece’s top four lenders to say it does not plan a rights issue after market leader National Bank last week unveiled plans for a 1.25-billion-euro rights offer. Costopoulos also dismissed any speculation that Alpha might be interested in merging with another Greek lender. Shares in Alpha Bank rose 0.79 percent on the Athens bourse yesterday to 7.70 euros, versus a 1.11 percent advance on the broader market.