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June 2023

Bank of Cyprus to raise EUR345 mln

Bank of Cyprus (BOCY) said it would proceed with a 2-for-7 rights issue at 2 euros a share to raise 345 million euros and boost its equity capital.The cash call, which will be completed by October, will strengthen the lender's capital adequacy ratio by 1.3 percentage points. The bank's Tier 1 ratio stood at 8.4…

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