National Bank follows other Greek lenders' by opting for capital increase

EconomyBanking Tags: Banking, NBG
Photo by MacroPolis
Photo by MacroPolis

As had been rumoured, National Bank of Greece’s board (NBG) decided on April 16 to call an Extraordinary General Meeting for May 10 to approve a capital increase of up to 2.5 billion euros.

NBG was the only Greek bank initially stressing on March 6 – the day Bank of Greece (BoG) disclosed Greek banks’ capital needs - that its capital plan “will address the capital needs without raising new equity capital”.

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