Fokion Karavias

Eurobank has announced overall net profits of €1.14 billion for 2023, compared to €1.347 billion in 2022.

Eurobank won shareholder approval on Thursday to buy back the 1.4% stake in the group held by Greece's bank bailout fund, a move that would end state participation in the country's largest lender.

Eurobank is making a 750 million euro ($821 million) funding package available to help Greek hotels and support tourism, which has been hit hard by the coronavirus crisis.

The Athens-based E-Kyklos think tank is organizing an online public debate on Wednesday evening titled "The Pandemic and the Strength of the Greek Economy: The Day After," featuring former deputy prime minister Evangelos Venizelos, the chairman and chief executive officer of Mytilineos, Evangelos Mytilineos, Eurobank's CEO Fokion Karavias, the president of the Greek Tourism Confederation, Yiann

Eurobank subsidiary FPS is set to evolve into one of the biggest companies in its domain in Greece - with a role in the broader market of Southeastern Europe too - now that Italy's doValue, a member of the Fortress Group, has secured an 80 percent stake in the bad-loan management firm.

Eurobank's effort to bolster the domestic mortgage market by offering products with a fixed rate that ensure an unchanged installment through the repayment period, is seen as an antidote to the uncertainty the decade-long economic crisis has left behind it in Greece.

The merger plan for the absorption of Grivalia Properties by Eurobank was approved on Friday by the general meetings of the two Athens-listed companies. This is set to lead to the capital strengthening of the credit group and the speedier reduction of its nonperforming loans.

Greece's third-largest lender Eurobank on Thursday reported lower full-year 2018 net profit as operating income declined, but said it was on track to deliver on a plan to transform its business by year-end.

The planned merger between the Eurobank Group and Grivalia Properties that was announced on Monday is aimed at the full streamlining of Greece's third-largest lender through the drastic reduction of its portfolio of nonperforming exposures from 39 percent of all loans at end-September to 15 percent at end-2019 and below 10 percent in 2021.

Eurobank is confident of beating this year's sour loan reduction target agreed with European Central Bank supervisors and plans to make further progress by 2021, the chief executive of Greece's third largest lender said on Monday.