Eurobank has applied to take part in Greece's Hercules bad loan reduction scheme via a 7.5-billion-euro securitization, the country's third-largest bank said.
Banks in Greece have been working to reduce a pile of about 75 billion euros in bad loans, a legacy of a financial crisis that shrank the country's economy by a quarter.
Greek stocks suffered heavy losses at the end of the week as they were affected by the very negative climate abroad regarding the impact of the coronavirus epidemic on the economy as well as the growing tension in northern Syria. This has taken the main index at Athinon Avenue below the 900-point mark, to a two-month low.
OTE telecom was the protagonist in Wednesday's bourse session following the issue of its 2019 financial results that showed a rise in profits, leading to 2.32 percent growth for its stock while accounting for over two-fifths of all of the day's trading. That helped the benchmark at Athinon Avenue record its first day of gains this week.
Stocks in the Greek bourse were once again swayed by banks that dragged the market lower on Tuesday, accelerating the benchmark's decline toward the 900-point mark.
The Athens Exchange (ATHEX) general index ended at 911.82 points, shedding 0.86 percent from Monday's 919.77 points. The large-cap FTSE 25 index contracted 0.95 percent to 2,291.80 points.
The benchmark at Athinon Avenue proved unable to hold on to most of the gains it had recorded during the day on Wednesday, in line with the majority of other eurozone bourses. It presented a mixed picture at the end of the session, with rising stocks narrowly edging out the losers on a day when the bond market dominated investor interest.