Greece's NBG plans $2.37 billion preferred share issue

ATHENS (Reuters) - Greece's largest lender National Bank (NBGr.AT: Quote, Profile, Research)(NBG.N: Quote, Profile, Research) said on Thursday it will seek shareholder approval for an issue of preferred shares of up to 1.5 billion euros ($2.37 billion) to boost capital and finance growth.

In a stock market filing, the bank said the new preferred shares will be callable and have a set dividend.

The shares will be non-voting and will be listed on a foreign stock exchange. Existing shareholders will waive their rights.

"Proceeds will be also used to finance acquisitions in markets of our interest -- Russia, Ukraine, Egypt -- if we so deem," a senior NBG executive who did not want to be named told Reuters.

"The shares will be issued in stages, we aim to raise 500 million euros in the first half."

The bank will hold its annual shareholder meeting on April 17.

NBG raised 3 billion euros in 2006 to buy out Turkish Finansbank, the first Greek bank to expand into Turkey.

(Additional reporting by Lefteris Papadimas)

(Reporting by George Georgiopoulos; editing by Sue Thomas/Rory Channing)