Bank of Cyprus Pcl, the Mediterranean nation’s biggest lender, is weighing a capital increase of as much as 1 billion euros ($1.36 billion), said three people familiar with the matter.
Cyprus became the euro area’s final bailed-out nation to return to international markets amid a surge in demand for the region’s higher-yielding debt.
Cyprus dodged a disorderly default and unprecedented exit from the euro by bowing to demands from creditors to shrink its banking system in exchange for 10 billion euros ($13 billion) of aid.
The European Union regulator that oversees Moody’s Investors Service, Standard & Poor’s and Fitch Ratings said credit rating companies are falling short of standards set by the bloc.
John Hourican is no stranger to a banking crisis.
The Deauville zombie is back.