Greece plans to complete by early October the reprivatization of the country's banks by selling its last stake in National Bank, Reuters quoted two sources with knowledge of the matter as saying. 

The planned sale marks the recovery of Greece's banking sector, which was bailed out during the debt crisis in which the country nearly exited the eurozone and international creditors imposed severe austerity measures to provide bailout loans, Reuters notes. 

It also marks the end of the bailout fund, the Financial Stability Fund, which was set up in 2010 to protect Greece's biggest banks and limit contagion to the European financial system. The Financial Stability Fund continues to own 18.4% of National Bank. It plans to sell 10% to 13% and the rest will be transferred to the state investment fund, the sources told Reuters. 

"Decisions on the exact size of the stake and the timing of the sale will be made next week," one source told Reuters. 

The HFSF began divesting from banks in 2023, having previously set aside about 50 billion euros to boost the country's four systemic banks in exchange for shares in them. 

A second official said that if there is strong demand, then the government might sell 13% of ETE.  "The stake will be sold through the bookbuilding process and public offer," the second official added.  JP Morgan has been engaged as an adviser to the HFSF, both sources said. 

Recall that the previous placement was made in November 2023 at a price of €5.30 per share and the proceeds to the state amounted to €1.06 billion, while the ETE's share now trades in the region €7.7