InsiderBusinessHellenic EGM approves €150 m capital raise

Hellenic EGM approves €150 m capital raise

Hellenic Bank shareholders on Wednesday approved a capital raise of €150 m, a precondition for the lender’s agreement to acquire the operations of the Cyprus Co-operative Bank.

The bank said that the four resolutions put to the EGM were approved and that procedures were proceeding normally.

Welcoming the shareholders, chairman Yussef Nasr said that the agreement with the CCB would boost Hellenic Bank so that it can contribute further to the economic growth and stability of Cyprus.

CEO Ioannis Matsis said that the acquisition of the good part of the co-op will lead to the creation of a leading bank for retail and SMEs which is expected to accelerate the bank’s strategy to boost its activities throughout Cyprus .


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