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UPDATE 1-Greece's Alpha Bank plans no rights issue-Chairman

Published 06/23/2009, 07:28 AM
Updated 06/23/2009, 07:48 AM

(Adds chairman quote, details)

ATHENS, June 23 (Reuters) - Alpha Bank, Greece's third-largest lender, has no plans to follow in the footsteps of rival National Bank and launch a rights issue, its chairman told shareholders on Tuesday.

"We have no plans for a share capital increase," the lender's chairman Yannis Costopoulos said during the company's annual general shareholder meeting.

Alpha is the third out of Greece's top four lenders to say it does not plan a rights issue after market leader National Bank last week unveiled plans for a 1.25 billion euro ($1.73 billion) rights offer.

After National's move, EFG Eurobank, Greece's second-biggest lender, and Piraeus Bank, the fourth biggest, ruled out having any similar plans.

Costopoulos also dismissed any speculation that Alpha might be interested in merging with another Greek lender. "There is no issue of a merger with a Greek bank," he told the shareholders meeting. ($1=.7216 Euro) (Reporting by George Georgiopoulos; Writing by Harry Papachristou; Editing by Simon Jessop)

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