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Europe Daily Bulletin No. 11131

30 July 2014
ECONOMY - FINANCE - BUSINESS / (ae) cyprus
Bank of Cyprus raises capital ratio to 15.1%

Brussels, 29/07/2014 (Agence Europe) - The biggest bank of Cyprus, Bank of Cyprus (BoC), increased its capital by €1 billion on Monday 28 July. Demand came mainly from the United States and Russia, but the European Bank for Reconstruction and Development (BERD) also bought up some of the shares, sold at 24 eurocents each. The bank's core Tier 1 capital has been raised from 10.6% to 15.1%. “The success of the private placing demonstrates the confidence that international institutional...