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Eurobank to table bid for buyback of 1.4% stake from HFSF-Reports
Eurobank is reportedly set to table Friday a formal bid for the buyback of the country’s bank bailout fund HFSF’s 1.4% stake in the lender. The price range is set at 1.10-1.90 euros per share. Also, HFSF holds a 9% stake in Alpha, 27% in Piraeus Bank and 40.4% in NBG.
Eurobank is reportedly set to table Friday a formal bid for the buyback of the country’s bank bailout fund HFSF’s 1.4% stake in the lender. The price range is set at 1.10-1.90 euros per share.
Also, HFSF holds a 9% stake in Alpha, 27% in Piraeus Bank and 40.4% in NBG.
Authorities had set up the bank support fund in 2012, to recapitalise lenders whose capital base was nearly wiped out after huge losses from a sovereign debt swap and rising loan impairments.
Lenders have returned to health in recent years, bolstering their balance sheets, as they managed to offload large part of sour loans and bringing down the relative ratio to below 8% in 2022 from 45% in 2016.
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