Monday May 4, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
HFSF examines plan for banks' swift return to private hands

By Yiannis Papadoyiannis

A large window of opportunity has opened for the faster privatization of the country’s systemic lenders and the state’s immediate recovery of a significant share of the funds placed in sustainable banks thanks to the exceptionally favorable investment mood regarding Greece on the grounds of its imminent economic rebound.

The managements of Alpha, Piraeus and National Bank have already placed the issue of strengthening private ownership at the top of their agendas, requesting more flexible tactics on the immediate use of warrants. Officials at the HFSF bank bailout fund note that its mission is to see the banks restructured before returning them to the private sector, and that the sooner this happens the greater its success will be. The Bank of Greece is also adamant about the significance of returning the lenders to private hands.

Accelerating the privatization of banks will allow for the faster recovery of part of the 25 billion euros the state has placed in the lenders, which combined with the 11-billion-euro reserve held by the HFSF will allow the government greater flexibility.

The country’s expected return to growth has increased the determination of foreign investors to undertake Greek risk, which represents a great opportunity for the immediate privatization of banks. Daily analyses from strong investment companies such as Goldman Sachs, Morgan Stanley, JPMorgan and others underscore the positive prospects of Greece and especially its banking sector as they recommend that their customers purchase shares in local banks.

Bank officials are now working to submit proposals for alternative ways to use the warrants, while the HFSF is studying its options to achieve the fastest sale of its stakes. All alternatives are based on the HFSF issuing public offerings for the acquisition of the warrants. The offering will not involve cash, but the swapping of the warrants with some shares for free, while warrant owners will have the option to relinquish the right to buy the other shares they are entitled to. Banks could therefore return immediately to private hands and not at the end of 2017, as the current warrant status provides for.

ekathimerini.com , Sunday Jul 6, 2014 (21:01)  
Government too conscious of its image
Tenders add term for ‘other currency’
Bankers call for a quick deal to get economy back on track
Capital flight from banks, stocks, bonds
Two killed, around 20 wounded in clash between inmates
Two men were killed and at least 20 wounded in a violent clash between inmates at the Greek capital's Korydallos Prison on Sunday. According to initial reports, a group of inmates believed t...
Fugitive Xeros nabbed thanks to tip-off, paper trail suggests
Police recaptured November 17 terrorist Christodoulos Xeros in January after being tipped off by an informant, documents seen by Kathimerini suggest. According to the paper trail, a few days...
Inside News
TRACK & FIELD
Over 18,000 runners participate in the Athens Half Marathon
The 4th Athens Half Marathon was an unqualified organizing and sporting success on Sunday, as thousands of runners joined in the race of the 21-kilometers and the 3k and 5k runs in the capit...
SOCCER
Six teams to fight to avoid the last relegation spot
Panthrakikos was the biggest winner of the penultimate round of Super League games on Sunday through its victory at Veria, on the day that Olympiakos partied for its fifth consecutive title....
Inside Sports
COMMENTARY
Wrong from the start
If the prime minister had handled negotiations with Greece’s international creditors differently from the onset I would bet that he would have achieved an excellent deal both for himself and...
EDITORIAL
Mixed signals
A decision from Greek Prime Minister Alexis Tsipras is long overdue. Caught up in the internal contradictions and disagreements of his leftist SYRIZA party, Tsipras has been unable to make a...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Over 18,000 runners participate in the Athens Half Marathon
2. Six teams to fight to avoid the last relegation spot
3. Olympiakos defeats Panathinaikos, Ivanovic goes
4. Two killed, around 20 wounded in clash between inmates
5. Government too conscious of its image
6. Tenders add term for ‘other currency’
more news
Today
This Week
1. Athens hopes for breakthrough
2. Wrong from the start
3. If SYRIZA misses targets it must go, says Lafazanis
4. Fugitive Xeros nabbed thanks to tip-off, paper trail suggests
5. Tenders add term for ‘other currency’
6. Mixed signals
Today
This Week
1. The Good, the Bad and the Ugly
2. Greece’s day of reckoning inches closer as debt payments loom
3. Greek decision to exit euro would be disastrous for Greece
4. Greece’s decade-long relationship with Merkel
5. Varoufakis attacked by anarchists while dining in Athens
6. No need to widen the rift
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.