Cyprus's Hellenic Bank to discuss possible reverse share split

Hellenic Bank Pcl

22/01/2015 15:40

NICOSIA, Jan 22 (Reuters) - Cyprus's Hellenic Bank  HBNK.CY  
said on Thursday it would discuss a possible reverse split of 
its share capital at a board meeting on Feb. 2. 
    The reverse split, which would reduce the bank's number of 
shares, follows Hellenic Bank's 201 million euro capital raising 
in December. 
    It raised the cash after European Union-wide stress tests 
last year showed it had a 105 million euro capital gap in an 
adverse scenario. The new capital raised its core tier 1 ratio 
to 12.8 percent.  ID:nL6N0TX041  
    Hellenic said it would also be discussing the inclusion of 
shares in the variable remuneration package of its executive 
officers. 
    Any decisions would be subject to the approval of 
shareholders, it added. 
     
     
 
 (Reporting By Michele Kambas. Editing by Jane Merriman) 
 ((michele.kambas@thomsonreuters.com;)) 
 
Keywords: CYPRUS HELLENIC/