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☆ Greece's National Bank stake sale oversubscribed -source
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

The logo of National Bank is seen outside a branch in Athens March 23, 2015. REUTERS/Alkis Konstantinidis/File Photo Acquire Licensing RightsATHENS, Nov 16 (Reuters) - Greece on Thursday sold a 22% stake in National Bank (NBG), its second-biggest lender by market value, with the sale oversubscribed by more than eight times, a source close to the process told Reuters. On Monday, HFSF concluded the sale of a 9% stake in Alpha Bank to UniCredit and announced plans to sell a 20% stake in NBG. A book-building process and a public offering for the sale of the NBG stake which started on Nov. 14 concluded on Thursday, with the final offer price set at 5.30 euros a share, the source said. HFSF, which owns 40% in NBG, sold a total of 201,237,334 shares, raising more than 1 billion euros, according to Reuters calculations.

Persons: Alkis, HFSF, Lefteris Papadimas, Toby Chopra Organizations: National Bank, REUTERS, Rights, Reuters, P Global, Alpha Bank, Fidelity, Norges, Lazard, RWC, Allianz, Thomson Locations: Athens, Greece, UniCredit, NBG, Blackrock

☆ National Bank stake sale oversubscribed - source
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: 1 min

The logo of National Bank is seen outside a branch in Athens March 23, 2015. REUTERS/Alkis Konstantinidis/File Photo Acquire Licensing RightsATHENS, Nov 16 (Reuters) - The sale of a 22% stake in National Bank of Greece (NBG) by the country's HFSF bank bailout fund was oversubscribed by more than eight times on Thursday, a source close to the process told Reuters. The sale via a book-building process and a public offering concluded earlier on Thursday at 5.30 euros per share, the source said. Fidelity, Blackrock, Norgest, Lazard, RWC and Alliance were among the investors who bought shares in Greece's second largest bank by market value. Lefteris PapadimasOur Standards: The Thomson Reuters Trust Principles.

Persons: Alkis, Lazard Organizations: National Bank, REUTERS, Rights, National Bank of Greece, Reuters, Fidelity, RWC, Thomson Locations: Athens, Blackrock, Norgest, Greece's

☆ Greece's National Bank attracts strong demand in 20% stake sale - source
▼ + stars: | 2023-11-15 | by ( Lefteris Papadimas | ) www.reuters.com time to read: +2 min

"Demand covered 6.2 times the shares offered," the source involved in the process said on condition of anonymity. On Monday, HFSF concluded the sale of a 9% stake in Alpha Bank to UniCredit and announced plans to sell a 20% stake in NBG. The value of the 20% stake is estimated at about 1 billion euros ($1.09 billion). HFSF currently holds a 40.4% stake in NBG and a 27% holding in Piraeus Bank, (BOPr.AT), Greece's third-largest lender. A source told Reuters on Monday that out of the 20% stake in NBG, 17% would be offered to funds and 3% to retail investors.

Persons: Alkis, HFSF, Greece's, JP Morgan, Goldman Sachs, Morgan Stanley, Lefteris Papadimas, Louise Heavens, Sharon Singleton Organizations: National Bank, REUTERS, Rights, Greece's National Bank, Reuters, P Global, Alpha Bank, Piraeus Bank, UBS, Thomson Locations: Athens, Greece, UniCredit, NBG

☆ Greece starts process to sell 20% stake in National Bank
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

People walk outside the National Bank of Greece headquarters in Athens, Greece, January 17, 2022. REUTERS/Louiza Vradi/File photo Acquire Licensing RightsATHENS, Nov 13 (Reuters) - Greece on Monday announced plans to sell a 20% stake in National Bank of Greece (NBG) after concluding the sale of a 9% stake in Alpha Bank to UniCredit as it looks to divest from the country's lenders. It currently holds a 40.4% stake in NBG and a 27% stake in Piraeus Bank (BOPr.AT), Greece's third largest lender. NBG's shares were down about 1% at 5.39 euros at 1012 GMT on Monday, with the 20% stake valued at about one billion euros ($1.07 billion). Earlier on Monday, HFSF said it sold its 9% stake in Alpha Bank (ACBr.AT) to UniCredit for 293.5 million euros after an improved bid from the Italian bank.

Persons: Louiza, HFSF, Lefteris Papadimas, Jason Neely Organizations: National Bank of, REUTERS, Rights, Monday, National Bank of Greece, Alpha Bank, Hellenic, Stability, Piraeus Bank, Reuters, Global, Thomson Locations: National Bank of Greece, Athens, Greece, UniCredit, NBG

☆ Greek state bank bailout fund sells 9% of Alpha bank to Unicredit
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

ATHENS, Nov 13 (Reuters) - Greece's state-controlled bank bailout fund HFSF said on Monday it sold its 9% stake in Alpha Bank (ACBr.AT) to UniCredit after an improved bid by the Italian bank. UniCredit (CRDI.MI) announced last month it would become Alpha Bank's biggest investor by buying a 9% stake owned by Greece's HFSF and also agreed to acquire most of Alpha's Romanian business. Greece has been attracting significant investment as its economy strengthened after the crisis, prompting S&P Global to upgrade the country to investment grade in October. HFSF sold last month its 1.4% stake in Eurobank and is expected to proceed with the sale of about 20% of National Bank in next coming days. Reporting by Lefteris Papadimas; Editing by Tom Hogue and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: HFSF, Greece's HFSF, UniCredit, Lefteris Papadimas, Tom Hogue, Stephen Coates Organizations: Alpha Bank, Alpha, Athens Stock Exchange, Global, National Bank, Thomson Locations: ATHENS, Italian, Romanian, Greece, Eurobank

☆ Piraeus bank Q2 profit up on higher net interest income
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

ATHENS, July 31 (Reuters) - Piraeus Bank (BOPr.AT), Greece's third-largest lender by market value, on Monday reported higher net earnings for the second quarter from the same period last year on a rise in net interest income. The government sees growth at 2.3% this year, from 5.9% in 2022, on higher consumer spending, strong tourism and investment. Piraeus Bank, 40% owned by the country's HFSF bank rescue fund, reported net earnings of 120 million euros ($132 million) from 92 million euros in the same quarter last year. Net interest income reached 461 million euros from 266 million euros a year ago, it said. The group's non-performing loan exposure ratio (NPE) improved to 5.5% of its total loan portfolio from 9.3% in the second quarter of 2022.

Persons: Lefteris, Mark Potter Organizations: Piraeus Bank, Thomson Locations: ATHENS, Piraeus

☆ Piraeus Bank posts higher Q1 profit on strong net interest income
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

ATHENS, May 5 (Reuters) - Piraeus Bank (BOPr.AT), Greece's third-largest lender by market value, reported higher quarterly net earnings on Friday on strong net interest income. The bank, which is 27% owned by the country's HFSF bank rescue fund, reported net earnings of 180 million euros ($198.7 million) in the first three months of the year, compared with a profit of 170 million euros in the last quarter of 2022. Net interest income in the first quarter rose to 420 million euros from 407 million euros in the fourth quarter, benefiting from the favorable interest rate environment. The bank lifted its earnings per share target to about 0.55 euros this year from a previous estimate of 0.45 euros. Piraeus CEO Christos Megalou said in a press release that the bank had also upgraded its target for return over tangible book to 12%.

☆ Greece's Eurobank posts big jump in 2022 profit
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: 1 min

ATHENS, March 9 (Reuters) - Eurobank (EURBr.AT), Greece's largest lender by market value, reported on Thursday an increase in 2022 profit, amid higher net interest and lower provisions for impaired loans. The bank, which is 1.4% owned by the country's HFSF bank rescue fund, reported net profit of 1.33 billion euros ($1.41 billion) versus 328 million euros in 2021. Eurobank's net interest income grew by 17.4% year on year in 2022 to 1.55 billion euros, driven by higher rates, lending and its international business. The bank's non-performing loan exposure (NPE) ratio fell to 5.2% at the end of December, from 6.8% at the end of 2021, with the stock of bad loans decreasing to 2.3 billion euros. ($1 = 0.9452 euros)Reporting by Athens Newsroom; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Piraeus Bank reports higher Q4 profit on strong net interest income
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: 1 min

ATHENS, Feb 24 (Reuters) - Piraeus Bank (BOPr.AT), Greece's fourth-largest lender by market value, reported on Friday strong net earnings in the last quarter of 2022 on higher fees and net interest income. The bank, which is 27 percent owned by the country's HFSF bank rescue fund, reported net earnings of 170 million euros, after a profit of 116 million euros in the third quarter last year. Reporting by Lefteris Papadimas Editing by Karolina TagarisOur Standards: The Thomson Reuters Trust Principles.

☆ Piraeus Bank to reduce bad loan exposure ratio to below 6% in 2023
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

ATHENS, Jan 30 (Reuters) - Piraeus Bank (BOPr.AT), Greece's fourth-largest lender by market value, said on Monday that it will cut its non-performing exposures (NPEs) ratio to below 6% of its loan portfolio in 2023. Under a business plan for 2022-2025, unveiled last year, Piraeus aimed to decrease its NPEs ratio to 3.0% by 2025 and possibly start paying out dividends from 2024 onwards. The bank targets earnings per share above 0.45 euros ($0.48) this year, up from estimated earnings per share of 0.27 euros for 2022. Piraeus, which is 27% owned by the country’s HFSF bank rescue fund, said it expects a cost-to-income ratio of below 42% this year. It aims to reduce the ratio to below 40% by the end of 2025.

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