Bloomberg News

Marfin Popular Bank Says Already Taken Steps to Boost Capital

October 27, 2011

Oct. 27 (Bloomberg) -- Marfin Popular Bank Bank Pcl, Cyprus’s second-biggest bank, said it has already taken measures to meet new capital requirements and is ready to take further moves.

The total additional capital Marfin needs to raise is 2.1 billion euros, according to preliminary figures from the European Banking Authority, the Nicosia-based bank said in an e- mailed statement today. Measures already decided, including issuing convertible securities, will boost capital by 2 billion euros, the bank said.

To contact the reporter on this story: Marcus Bensasson in Athens at mbensasson@bloomberg.net

To contact the editor responsible for this story: Maria Petrakis at mpetrakis@bloomberg.net


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