HB: Absorbance of €201m
15/12/2014 8:26
Hellenic Bank Group announces the successful completion of the first phase of the share capital increase absorbing €201 million.
The €201 million absorbed in the first phase of the capital enhancement oversubscribe the capital need of €105 million as indicated by the “Adverse Scenario” of the Overall Assessment of the European Central Bank and the European Banking Authority, based on the Asset Quality Review (AQR)( and he Stress Tests and enhance further its capital base.
With the completion of the first phase of the share capital increase of the Bank, via the exercise of Rights and the Subscription Right, the Core Tier 1 Capital on September 30, 2014 after the conversion of the Convertible Capital Securities 1 to shares stands at 12.8%, exceeding significantly the corresponding the minimum regulatory index.
The Board of Directors reserves the right to absorb further €20 million capital that corresponds to Unexercised Rights, which have not been disposed through the Subscription procedure, by the end of January 2015, if this is deemed necessary.
The success of the Group is notable as it is achieved in a difficult and full of challenges economic and investing environment.
The three major shareholders, Wargaming Public Company Ltd, Third Point Hellenic Recovery Fund LP and Demetra Investment Public Ltd have supported fully the Issue, confirming their confidence and commitment to the Group.
The Group, without any dependence on the Emergency Liquidity Assistance (ELA) and the European Central Bank, with strong balance sheet and capital base, liquidity and enhanced confidence of its depositors and shareholders, can exploit the business opportunities and can develop further its customer base and market shares.
The prudent choices and management allowed Hellenic Bank to be autonomous, without any bail-out and bail-in.
The €201 million absorbed in the first phase of the capital enhancement oversubscribe the capital need of €105 million as indicated by the “Adverse Scenario” of the Overall Assessment of the European Central Bank and the European Banking Authority, based on the Asset Quality Review (AQR)( and he Stress Tests and enhance further its capital base.
With the completion of the first phase of the share capital increase of the Bank, via the exercise of Rights and the Subscription Right, the Core Tier 1 Capital on September 30, 2014 after the conversion of the Convertible Capital Securities 1 to shares stands at 12.8%, exceeding significantly the corresponding the minimum regulatory index.
The Board of Directors reserves the right to absorb further €20 million capital that corresponds to Unexercised Rights, which have not been disposed through the Subscription procedure, by the end of January 2015, if this is deemed necessary.
The success of the Group is notable as it is achieved in a difficult and full of challenges economic and investing environment.
The three major shareholders, Wargaming Public Company Ltd, Third Point Hellenic Recovery Fund LP and Demetra Investment Public Ltd have supported fully the Issue, confirming their confidence and commitment to the Group.
The Group, without any dependence on the Emergency Liquidity Assistance (ELA) and the European Central Bank, with strong balance sheet and capital base, liquidity and enhanced confidence of its depositors and shareholders, can exploit the business opportunities and can develop further its customer base and market shares.
The prudent choices and management allowed Hellenic Bank to be autonomous, without any bail-out and bail-in.
