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Capital Calls: HSBC, MRNA scramble, Cable project

Capital Calls: HSBC, MRNA scramble, Cable project
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Twin tech deals flag nascent EU strength

Advocates of Europe’s technology scene have something to crow about these days. Consumer-facing fintechs like $50 billion Klarna and Britain’s Wise are mulling bumper market debuts, and the region’s startups raised a record sum last year .

Capital Calls: Greek bank relaunch relies on same old fuel source

Concise insights on global finance. - GALAXY BRAIN. Alpha Bank (ACBr.AT) Chief Executive Vassilios Psaltis on Monday announced plans to raise 800 million euros of “growth capital” as part of his strategy to reach a 10% return on tangible equity (ROTE) by 2024. Investors nudged the lender’s shares up by one-tenth, reversing some of Friday’s losses, but they’re still sceptical. If Psaltis’s targets were achievable, Alpha’s market value in 2024 should roughly match its projected 6.7 billion euro tangible book value. In today’s money, using a 10% discount rate, that’s 5 billion euros. Yet the lender is worth less than a third of that sum.

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