Eurobank Ergasias

Eurobank's stock accounted for almost three-quarters of trading at the Greek bourse on Wednesday ahead of the lender's return today to the MSCI Standard Greece Index. Still, Eurobank ended lower, as did the benchmark.

The surprise announcement of the earlier inclusion of Eurobank in the MSCI Standard Greece Index gave a boost not only to the lender's stock but also the whole bourse on Tuesday, leading the benchmark to major gains and turnover to its highest level in 50 sessions - just a whisker away from 100 million euros.

Warnings from the Bank of Greece and Goldman Sachs over the course of the Greek economy, not to mention international concerns on foreign markets over the raging trade war, led on Wednesday to the complete erasure of the gains recorded by the Athinon Avenue benchmark on Tuesday.

MSCI has upgraded two systemic lenders, Eurobank and National Bank, to the main index for Greece, from which they had been demoted last November after the decline in their capitalization in 2018.

The Commission on Protection of Competition has permitted Post Bank, with legal name Eurobank Bulgaria AD, to acquire Piraeus Bank, Bulgaria.

After permission for the deal was given by the Bulgarian National Bank, the financial entity is now the fourth biggest financial institution in terms of assets in Bulgaria.

Greek firm Bernitsas Law has been named the Most Innovative Law Firm of the Year in Greece at the 20th International Financial Law Review (IFLR) Annual European Awards.

"Bernitsas won the award due to its role in key transactions of 2018 that will influence legal practice in a number of fields, in Greece and maybe elsewhere," the IFLR said in a statement.

Bloomberg reported on Monday that Greek securities have good momentum as traders buy into the prospect of a forthcoming election that will bring in a pro-business government, and the benchmark at the local bourse duly rose to a new nine-month high on a uniform advance by most blue chips.

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.

The Greek bourse continues to go from strength to strength, with its benchmark recording another eight-month high on Friday, boosted by the performance of bank stocks as well as the continued drop of the yield on Greek state bond ahead of a possible new issue. The Eurogroup decision mattered little for traders, as they had already factored it in earlier in the week.

The country's four systemic banks issued loans of 11 billion euros to corporations and households in 2018, expanding their credit not only to major enterprises but also those with an annual turnover of below 2.5 million euros.