In Postcrisis Milestone, Greece is Poised to Exit Stake in Another Bank
Posted on Monday March 04, 2024

Athens is getting closer to ridding itself of all its bank stakes, nearly 15 years after the economic meltdown that placed Greece at the center of the eurozone debt crisis. On Monday, Greece's Hellenic Financial Stability Fund started the sale of most, or potentially all, of its 27% stake in Piraeus Financial Holdings. Last year, the fund cashed out of two other lenders, Alpha Bank and Eurobank, and sold down its shares in another institution, National Bank of Greece.

Greece's Piraeus Bank $1.4 billion stake sale secures strong demand
Posted on Sunday March 03, 2024

ATHENS (Reuters) -The sale of a 27% stake in Piraeus Bank by Greece's bank bailout fund (HFSF), worth about 1.3 billion euros ($1.41 billion), was oversubscribed by more than three times on Monday, sources close to the process told Reuters. Greece's third largest lender will be the third of the country's four big banks to be fully privatised since last autumn after the Greek economy was raised to investment grade. Interest in the Piraeus sale, which was announced on Sunday, is a positive sign for the Greek economy after a decade-long debt crisis that saw the Mediterranean country nearly fall out of the euro before receiving three international bailouts.

Alpha Bank, Piraeus Bank profits up on higher interest rates
Posted on Friday November 03, 2023

Alpha Bank and Piraeus Bank reported on Friday a jump in profits for the first nine months of 2023 as higher rates boosted net interest income and bad loans declined. Alpha Bank, Greece's fourth-largest lender by market value, reported net earnings of 491 million euros ($522 million), up 59% from the first nine months of 2022. Its net interest income increased 45.8% to 1.34 billion euros, as the margin rose to 2.3% from 1.7% a year earlier.

Posted on Wednesday December 31, 1969