NICOSIA: Cyprus's Hellenic Bank has raised 201 million euros ($250.45 million) in new capital, covering the adverse scenario capitalisation shortfall of Europe-wide stress tests in October.
The bank said its three major shareholders -- Wargaming, Third Point Hellenic Recovery Fund and Demetra Investments -- fully supported the rights issue.
Stress tests found a 105 million euro gap in the capitalisation of Hellenic under adverse conditions. Hellenic said that the capital issue brought its common equity tier 1 to 12.8 percent.
It said the bank had the right to raise an additional 20 million euros in capital corresponding to unexercised rights before the end of January 2015 if necessary.
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