ATEbank stated it plans to boost its capital by 1 billion euros on Wednesday in efforts to strengthen its balance sheet.
“ATEbank, in cooperation and with the support of its major shareholder, the Greek state, will proceed in the coming period to a share capital increase of 1 billion euros to strengthen the quality and quantity of its capital,” the state run lender said.
ATE failed a European stress test in July. The bank said that it fell to a nine-month net loss of 117.2 million euros on higher provisions and on trading losses.
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