WL Ross remain in the hunt for EBS

WL Ross & Co chief executive Wilbur Ross said his investor group remains in the bidding for the EBS, even as it is in talks with the Government about new capital targets for the country’s fifth-largest lender.

The Central Bank said banks will have to increase their capital levels and that EBS must raise an additional €438 million to reach a core Tier 1 capital ratio of 13.5%.

This means the lender will have to raise a total of €963m by the end of December. The capital is in addition to €350m the Government injected into EBS this year, giving it control of the lender.