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Piraeus Bank Approved 400M Share Capital Increase

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The extraordinary general meeting unanimously approved the share capital increase of Piraeus Bank by €400 million by issuing preference shares to the Greek State. 

The increase will reinforce the bank’s Core Tier 1 ratio from 8.5% to 9.5%.

President Michalis Sallas highlighted that natural entities should not participate in the Greek debt write-down program.

According to M.Sallas, the savings of minor investors, small businesses, and everyday people should not be affected, as it would hit bond purchasing for a long time.
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