March 10, 2014 / 1:45 PM / in 4 years

Banks appointed for Piraeus Bank's $2.4 billion share offer

LONDON (Reuters) - Credit Suisse, Deutsche Bank and Goldman Sachs have been appointed as joint global coordinators on Piraeus Bank’s (BOPr.AT) 1.75 billion-euro ($2.4 billion) share issue, a source familiar with the matter said on Monday.

Piraeus Bank, Greece’s second-largest lender, wants to boost its equity capital after stress tests by the country’s central bank showed that it requires 425 million euros.

The source said that Mediobanca would act as joint bookrunner with UBS on the deal, after UBS stated its appointment in a statement on Monday.

Greek banks are still grappling with the country’s economic troubles. Results for Piraeus last week showed that although the bank returned to profit in 2013 thanks to a one-off accounting gain, bad loans rose further in the recession-hit country.

    Shares in the Greek lender were down 3.1 percent at 1.87 euros at 1323 GMT.

    ($1=0.7214 euros)

    Reporting By Freya Berry; Editing by Greg Mahlich

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