Marfin Bank Rises on ‘Credible’ Investor Interest: Athens Mover

Marfin Popular Bank Pcl (MARFB), the second- largest lender in Cyprus, surged in Athens trading after the bank said it received approaches from “credible” strategic investors to help the firm meet capital requirements.

Marfin Bank rose 22 percent to 29.5 euro cents at 1:23 p.m., its biggest intraday gain since Aug. 29.

The company made the comment in a filing to the Athens bourse today after a report in Politis newspaper said that Russia’s VTB Bank OJSC (VTBR) is in talks with the lender.

Marfin reported today a 3.3 billion-euro ($4.4 billion) loss for 2011 after writing down its holdings of Greek bonds. The bank said it needs to raise 1.35 billion euros to comply with the required Core Tier 1 capital ratio of 9 percent.

To contact the reporter on this story: Tom Stoukas in Athens at astoukas@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.