The Hellenic Bank announced on Friday it has secured 358 mn euro and has thus successfully strengthened its capital base.
Wargaming Public Company Ltd and Third Point Offshore Master Fund LP are now the Bank’s biggest shareholders with 30% each, while Demetra Investments has obtained a share capital of about 15%. The existing shareholders retain around 23%.
The Hellenic Bank announced that it has exceeded by 64 mn euro the capital shortfall which had been estimated to 294 mn euro, ensuring a Core Tier 1 of 9.5%.
“This capital ensures autonomous performance of the Group and in conjunction with the strong balance sheet and comfortable liquidity gives new impetus to the Group to play an important role in the recovery of the economy” the Bank said.
The capital adequacy ratio now stands at 16.3%, its equity ratio at 15.1% and the Core Tier 1 capital at 9.5%, “well above their respective minimum ratios set by the Central Bank of Cyprus”, the Hellenic Bank said.
