Hellenic Financial Stability Fund

Overwhelming offers for NBG

Bank bailout fund HFSF confirmed on Thursday the sale of 22% of the share capital of National Bank, out of the total 40.39% currently held by the state, after the unprecedented sum of offers observed in the private placement, with the sale oversubscribed by more than eight times.

Greece’s National Bank attracts strong demand in 20% stake sale

Demand for a 20% stake in Greece's National Bank (NBG) held by the country's bank bailout fund was covered by more than six times on Tuesday, in the first day of a book-building process which ends later this week, a source with knowledge of the matter told Reuters.

"Demand covered 6.2 times the shares offered," the source involved in the process said on condition of anonymity.

HFSF to sell 20% of equity stake in National Bank

The Hellenic Financial Stability Fund (HFSF) on Tuesday launched the book-building process to offer 20% of its equity stake in National Bank. 

HFSF will offer up to 182,943,031 shares of National Bank with the option to offer an additional 1.99% or 18,294,303 shares. 

The book-building offer foresees both domestic and international investors. 

ATHEX: Lenders steal show at the Greek bourse

The stocks of Greek banks sent turnover at the local bourse soaring on Monday, as they accounted for about 90% of the nearly 400 million euros traded at Athinon Avenue on the day, helped by the divestment of the Hellenic Financial Stability Fund from Alpha and National. Prices varied, with winners edging out the losers by the smallest of margins.

National Bank sees earnings climb in Jan-Sept

National Bank, Greece's second-largest lender by market value, on Tuesday reported higher net earnings in the first nine months of 2023 compared with the same period a year ago as net interest income rose.

NBG, 40% owned by the country's HFSF bank rescue fund, said net earnings reached 791 million euros from €680 million in the first nine months of 2022.