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NBG Announces Share Capital Increase Requirements

Today, the National Bank of Greece announced the requirements of a share capital increase, that needs to be authorized by a May 10th general shareholder's meeting.

The Bank has recommended a non pre-emptive new ordinary shares issue, at a .30 worth per share. The share's goals are to generate 2.5 billion euros in total gross revenues.

The National Bank wants the proposed equity capital to achieve two elements. It wants the funds to alleviate the capital deficiency, concerning authorized capital actions, and assist the 2,183 million euro capital requirements, recognized by the Bank. The financial institution also wants to build up its Base III capital positioning, and offer additional revenue resilience.