Piraeus Bank successfully completes 807-mln-euro share capital increase

Piraeus Bank on Tuesday announced the successful completion of a share capital increase plan worth 807,054,045 euros. The bank said the plan was 129.43 pct oversubscribed.

Piraeus Bank said its equity capital, following completion of the share capital increase scheme, totaled 4.1 billion euros, boosting its capital adequacy ratios by 200 basis points (pro forma based on figures of Sept. 30, 2010). The bank’s pro forma Equity Tier I was set at 9.5 pct, its Tier I at 10.8 pct and its total capital adequacy ratio at 11.7 pct.

A bank statement said the successful completion of the plan offered Piraeus Bank to ability to deal with challenges in an economic environment from a more powerful position, to strengthen its presence in the banking market, to expanding the ability of raising capital through a gradual stabilisation of the interbank market and to take advantage of growth prospects in the wider region, when conditions allow it.

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