Proton Bank to Reorganize Into Lender Called New Proton Bank
Proton Bank SA (PRO) will reorganize into a new lender called New Proton Bank which will have a 10.6 percent capital adequacy ratio, according to an e-mailed statement from the Athens-based Finance Ministry today.
The deposits and “healthy” operations, inlcuding the loan portfolio, were transferred to New Proton Bank, the ministry said. The move has Bank of Greece (TELL) and finance ministry approval and the plan is to sell the new lender’s shares soon, the statement said.
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