BOC not expecting to raise additional equity, says Hourican

The Bank of Cyprus (BOC) has sufficient common equity capital to support its strategy and is not expecting to raise any additional equity, said the Groups Chief Executive Officer John Patrick Hourican, speaking at the Annual General Meeting of Shareholders on Tuesday.

He said, however, that the bank is constantly examining ways to improve the efficiency of the shareholders’ capital as well as the funding of the balance sheet. “To that end, and as our bank normalizes, we are carefully exploring the possibility of introducing Tier 2 capital to augment the strength of our balance sheet and supplement our equity capital base.

Source: Cyprus News Agency.