Huge turnout for Pi­raeus Bank

Kathimerini English - - Front Page -

share cap­i­tal in­crease ex­ceeded ex­pec­ta­tions as its com­ple­tion yes­ter­day saw a re­mark­able 19.83 per­cent cov­ered by pri­vate in­vestors, against a min­i­mum re­quire­ment for 10 per­cent for the lender to re­main in pri­vate hands af­ter its re­cap­i­tal­iza­tion process. Pi­raeus an­nounced yes­ter­day that pri­vate par­tic­i­pa­tion reached 1.455 bil­lion eu­ros. The bank’s to­tal es­ti­mated cap­i­tal re­quire­ments are 7.335 bil­lion. Af­ter the com­ple­tion of the process, the bank’s value is now es­ti­mated at 9 bil­lion eu­ros, with a cap­i­tal ad­e­quacy ra­tio of 14.5 per­cent. Af­ter the ab­sorp­tion of six bank net­works in Greece over the last few months (ATEbank, Geniki, Mil­len­nium, Bank of Cyprus, Cyprus Pop­u­lar Bank and Hel­lenic Bank), Pi­raeus is now the lender with the big­gest mar­ket share in loans is­sued (29.6 per­cent) and de­posits (28.9 per­cent). Its eq­ui­ties add up to al­most 100 bil­lion eu­ros, it has a net­work of 1,750 branches and em­ploys 24,756 peo­ple.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.