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June 21, 2024
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EUROBANK

Eurobank to buyback 1.4% of shares now held by HFSF

eurobank-to-buyback-1.4-of-shares-now-held-by-hfsf

Eurobank’s proposal for the buyback of 1.4% of its shares now held by the Ηellenic Financial Stability Fund (HFSF) is expected in the afternoon.

Meanwhile, it is estimated that these shares will then be canceled by Eurobank.

The proposal will be officially announced on Monday and the process will soon be completed.

But what worries the banking officials now is which of the other three systemic banks will follow the process, a process which will be different from that of Eurobank.

The HFSF owns 9% of Alpha Bank, 27% of Piraeus Bank and 40.4% of National Bank.

Therefore, the next sale will concern either National Bank or Alpha Bank.

The sale in Piraeus will follow later in the year or in 2024.

It is pointed out that during the Greek debt crisis, a total of 64 billion euros were required for the survival of the banks (about 57 billion euros for the systemic banks), while the Greek banking system was recapitalized three times.

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