Proton Bank on Monday said that an inspection by the Bank of Greece over an embezzlement case worth 51 million euros, which allegedly includes the participation of ex-members of its board, does not seem to cover the bank’s assets and said its new board was in constant contact and cooperation with supervisory authorities, ready to take any initiative necessary to prevent or suppress any illegal act.

In a statement, the bank said its board and workers were continuing their efforts to strengthen the bank within a difficult period for the country and the banking system, with preparations over an equity capital increase –worth 100 million euros- was currently at its last stage. Proton Bank said the plan was expected to be approved in the next few days.