ECONOMY

Eurobank set to take next step in its evolution

Eurobank set to take next step in its evolution

The board of the Eurobank group is by September 15 expected to approve the split of its bank arm from the rest of the group. 

The bank will retain the Eurobank name, without the old Ergasias suffix. This forms part of the management’s strategic plan for the streamlining of the bank’s finances.

The next key date will be September 30, when global investment management firm PIMCO will table its binding bid for the securitization of the “Cairo” portfolio of nonperforming exposures (amounting to 7.5 billion euros) and for the acquisition of FPS, the Eurobank group’s subsidiary for the management of bad loans.

Banking

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.

READ MORE
Borrowing rates remain at high levels
ECONOMY

Borrowing rates remain at high levels

Banks slash bad-loan stock by over 15 billion euros in a year
ECONOMY

Banks slash bad-loan stock by over 15 billion euros in a year

Piraeus Bank grows Q2 profit as bad debt provisions fall
ECONOMY

Piraeus Bank grows Q2 profit as bad debt provisions fall

National, Alpha’s Q1 results show rise in profits, efforts to clear NPLs
ECONOMY

National, Alpha’s Q1 results show rise in profits, efforts to clear NPLs

Moody’s says removal of capital controls ‘credit positive’ for Greek banks
ECONOMY

Moody’s says removal of capital controls ‘credit positive’ for Greek banks

ECB Supervisory Board chief sees positive signs for Greek banks
ECONOMY

ECB Supervisory Board chief sees positive signs for Greek banks