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Greek Alpha seeks up to 950 mln euro capital increase

Mon Jan 12, 2009 3:41am EST

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ATHENS, Jan 12 (Reuters) - Greece's third-largest lender, Alpha Bank (ACBr.AT), asked for shareholder approval on Monday to raise up to 950 million euros via the sale of preferred shares to the government as part of a state-backed support package.

"We decided to take part in the support plan for the economy, to make use of all facilities. What is good for the economy is good for banks," Alpha chairman Yannis Costopoulos told shareholders at an extraordinary general meeting.

Greece has pledged 28 billion euros to the country's lenders to keep the economy adequately funded.

The scheme provides capital injections via the sale of preferred shares to the state, guarantees on debt issuance by banks and liquidity support via special government bonds. (Reporting by George Georgiopoulos)



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