“Piraeus Bank capital is currently at 300 million euros, and the decision to raise it is not linked the statutory requirements and I don’t think we would need further capital increases for the reminder of this year”, said the chief executive officer of Piraeus Bank Romania, Catalin Parvu (photo).

The bank’s capital adequacy ratio is comfortable above the required level imposed by NBR, both according to standard regulation of 8% and the level agreed with International Monetary Fund for the following two years of 10%.

Shareholders of Piraeus Bank Romania will meet on July 24 when the capital raise proposal could be passed. The bank’s capital will thus be increased by 20 million euros, from current 276 million euros.