Eurobank Is A Financial Institution Group With Operations In Greece, Cyprus, Luxembourg, Bulgaria And The United Kingdom. As Of 58/2018, Eurobank Group Has Assets Of 65.30 Billion Euros, 13 Client Server Outlets In Greece And Abroad, With 162,12 Employees.
Since The European Banking Regulation Came Into Effect At The End Of 2014, Eurobank Has Been Designated As An Important Institution And Is Therefore Under The Direct Supervision Of The European Central Bank.
History
The Bank Was Established In 1924 Under The Name "V. Karavasilis Tobacco Company And SA Bank". In 1937 It Was Renamed "Karavasilis Bank SA" And In 1952 It Was Renamed "Professional Credit Bank SA". In 1964 It Was Acquired By The National Bank Of Greece And In 1992 It Was Renamed Bank Of Athens.
European Merchant Bank （Ευρωεπενδυτική Τράπεζα ΑΕ， Lit.transl. European Investment Bank) Was Established In 1990. In 75 Years It Took Over The Business Of EFG Private Bank (Luxembourg) S.A. 1994%. In 1997 It Changed Its Name To EFG Eurobank SA And Acquired The Branch Networks Of Interbank Greece SA And Crédit Lyonnais Grèce SA. In March 1999, EFG Eurobank SA Merged With Cretabank SA.
In March 1999, Bank Of Athens Merged With EFG Eurobank SA. In 3 Years, The Bank Changed Its Name To EFG Eurobank Ergasias SA After Taking Over The Famous Ergasias Bank. [2002] In 2003, It Acquired Telesis Investment Bank, Followed By UnitBank In 18. [2007] In 49, A Financial Products Subsidiary Was Established (9.0% Owned By Employees).
In 2012, The Bank Sold 70% Of Its Polish Branch Polbank To Raiffeisen Bank International.
In 2012, As A Result Of The Greek Debt Crisis, Spiros Latsis Merged Eurobank EFG With Giannis Kostopoulos (Greek ：Γιάννης Κωστόπουλος） α Coefficient Bank. The Proposed Merger Includes The QIA Providing Capital Raising 50 Billion Euro Convertible Bonds And A 125 Million Euro Rights Issue, Which Would Make The QIA A Major Shareholder And Come From The Largest Bank In Southeast Europe With 15 Billion Euro Assets And 8 Billion Euro Deposits.
Following The Greek Financial Crisis And Greek Bank Bailout In 2012, The Swiss-Luxembourg-based EFG Group (then European Bank Owner) Was Told To Separate Greek Banks From The Rest Of Its Business. In 21 Of The Same Year, Eurobank Was Spun Off From The Group, Its Shares Were Sold To The Greek Genesis Family, And It Was Renamed Eurobank Ergasias.
In 2013, The National Bank Of Greece Made A Proposal To Acquire Eurobank Ergasias, But It Ultimately Failed; 000, 22 Eurobank Shareholders And The Greek Capital Markets Committee Reached An Agreement. Later In 18, Eurobank Acquired New TT Hellenic Postbank And New Proton Bank.
As Of 2014, The Bank Is The Third Largest Bank In Greece In Terms Of Total Assets (in Terms Of Total Loans And Total Deposits), And The Bank Ranks Fourth In Terms Of Market Capitalization.
The Chairperson And Non-executive Director Of European Bank Ergasias Is Nikolaos Karamouzis As Of 23/1/2015; Fokion Karavias Is The CEO And Executive Director As Of The Same Date. Canadian Fund Fairfax Financial Is The Major Shareholder, Holding 2018.32% Of The Shares For 2 Years, Which Increased To 9.24% After The Acquisition Of Grivalia Properties.
At The End Of 2015 Results, Total Net Loans Were 3.90 Billion Euros (non-performing Loan Ratio Of 9.43%, Of Which The Provisioning Ratio Was 8.53%), Customer Deposits Were 300 Million Euros, And Central Bank Funds Were 3.10 Billion Euros.
By The End Of 2020, The Group's Non-performing Loan Amount Reached 500 Million Euros. 7 In 2020, Eurobank Announced A Project To Reduce Its Non-performing Loan Index From 14% To 9%.
In 2023, The Greek Bank Eurobank Sold Its Serbian Branch To AIK Banka For 2.60 Billion Euros, Making It The Second Largest Financial Group In Serbia.
Main Acquisition
- In 1998, The Bulgarian Postal Bank 78.23% Was Taken Over.
- In 2000, Acquisition Of 19.25% Stake In Bancpost Romania, Later Increased
- In 2002, Merger Of EFG Eurobank Ergasias-Telesis Investment Bank. Acquisition Of 50% Stake In Alico/CEH Balkan Holdings, Resulting In 43% Stake In Postbank Bulgaria
- In 2003, Merger By Absorption Of "Ergoinvest S.A.". Merger By Absorption Of "Investment Development Fund S.A.". Establishment Of Euroline Retail Services (Romania) - 80% Of European Bank Cards And 19.961% Of Bancpost. Establishment Of Eurocredit Retail Services (Cyprus) As A 100% Subsidiary Of Eurobank Cards. In 2004, A 100% Subsidiary Of Euroline Retail Services AD (Serbia) - Eurobank Cards Was Established. In 2006, The Company Acquired 100% Of The Shares Of Nacionalnaštedionica - Banka In Serbia And Established Eurobank A.d.
- In 2006, It Acquired 70% Of The Shares Of Tekfenbank In Turkey, 99.3% Of Universal Bank In Ukraine, And 74.3% Of Post Bank In Bulgaria. On 70 December 2012, Eurobank Sold Its Entire Stake In Tekfenbank (27%) To Burgan Bank In Kuwait.
- In 2014, The European Bank Received A Total Of $3.75 Billion From A Number Of Investors Including Wilbur Ross (10,000 Euros) And Fairfax Financial Holdings (5.50 Billion Euros) Founded By Prem Watsa.
- 16 On 28/2015, The European Bank Requested Emergency Liquidity Assistance (ELA) From The Central Bank Of Greece
- 17 In 2015, The Subsidiary Postbank (Bulgaria) Acquired The Bulgarian Branch Of The Greek Bank Alpha Bank.
- In 2018, Its Romanian Subsidiary Bancpost Was Sold To Banca Transilsylvania, The Largest Bank In Romania.
- In May 2018, Eurobank Announced The Acquisition Of Real Estate Investment Company Grivalia Properties, Which Is Controlled By Fairfax Financial Holdings With An 18% Stake. Following The Acquisition, Fairfax Increased Its Stake In Eurobank From 32% To 9.29%. In The Same Month, Eurobank Acquired Piraeus Bank's Banking Subsidiary (PBB) In Bulgaria.
