Eurobank

ΤΡΑΠΕΖΑ EUROBANK ΑΝΩΝΥΜΗ ΕΤΑΙΡΕΙΑ - ASTARTI DESIGNATED ACTIVITY COMPANY

An agreement with the doValue Group was signed by Eurobank Holdings ("Eurobank") a) for the sale of part of the mezzanine notes bonds and the junior notes of the securitization of a mixed portfolio of non-performing receivables of Eurobank SA ("The Bank") with a nominal value of € 5.2 billion (€ 3.2 billion book value) ("Mexico" transaction) and (b) for the management of this portfolio by doVal

A series of attacks targeting banks across Attica took place early on Monday morning.

At 2.38 a.m. two ATMs and the facade of a Piraeus Bank branch in Agios Dimitrios were damaged by vandals.

That was followed at 3.39 a.m. by an arson attack on an ATM at the Eurobank branch in Galatsi.

The imported worries about the impact of the new strain of the coronavirus, along with the impasse in the Brexit deal discussions, took a heavy toll on the local stock market too on Monday, although the benchmark almost halved the losses it had suffered mid-session.

The Greek stock market reversed its morning losses to end the day with some gains in the face of a mixed picture in European markets due to the Brexit-related turbulence. Foreign portfolios continue to take an interest in local stocks - after the net inflow of 14.7 million euros last month - with blue chips rebounding and trading volume topping €150 million.

Funds are evolving into the biggest property owners in Greece and are gradually trying to sell the assets that come under their ownership through the acquisition of large bad-loan packages.

Bank stocks almost single-handedly secured gains for the benchmark at Athinon Avenue at the start of the week, as other blue chips headed lower. The recent momentum continues unabated though, as also illustrated by the daily turnover level.

Greek banks achieved a remarkable reduction in their nonperforming exposures in the first nine months of the year, despite the tough conditions of Covid-19, showing their resilience before moves for the substantial streamlining of their financial balances scheduled up to the first half of 2021.

The general index closed at 634.97 points, up 1.37% and very near the intraday high of 635.41.

This gain may have limited the losses of previous sessions but the fact remains that the index has been confined within a narrow band above 600 points over the last few months at a time when other markets have thrived, despite the pandemic. Athens remains a disappointing performer.

Eurobank has moved ahead of Greek peers in the drive to cut bad loan volumes after completing a deal with Italian debt recovery firm doValue, and is now focused on boosting lending, its chief executive told Reuters on Tuesday.