Eurobank Ergasias

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  EFG Eurobank Ergasias
logo
Country GreeceGreece Greece
Seat Athens
legal form Anonimi etairia
Aktiengesellschaft (Greece)
ISIN GRS323003012
BIC ERBKGRAAXXX
Website www.eurobank.gr

The euro Ergasias (formerly EFG Ergasias euros) is the third largest bank in Greece based in Athens. The Greek shipowner Spiros Latsis and his family hold a 44 percent stake in Eurobank Ergasias. Likewise at the Swiss EFG International , which is 49 percent owned by the Latsis family. The bank has 24,500 employees and, with the exception of Greece, is primarily active in Southeastern Europe.

history

The branch of the bank in Metsovo

In 1990 "Euromerchant Bank SA" was founded, followed by the takeover of other small banks in Greece, including in 1999 the Bank of Athens and the Bank of Crete .

A merger between Alpha Bank and Eurobank Ergasias in 2011 failed because both banks were affected by the Greek haircut at the time.

In February 2013, a merger of Eurobank Ergasias with the National Bank of Greece was discussed, after this step was not taken, Eurobank had to go under the bank rescue package. The Eurobank was incorporated into the Hellenic Financial Stability Fund .

Significant acquisitions abroad

  • 1998: 78.23% of the Bulgarian Postbank
  • 2000: 19.25% of Bancpost in Romania, later increased
  • 2002: Telesis Investment Bank merger
  • 2006: Takeover of 100% of Nacionalna štedionica – banka in Serbia, now EFG Eurobank (Serbia).
  • 2006: Takeover of 70% of Tekfenbank in Turkey, 99.3% of Universal Bank in Ukraine and 74.3% of DZI Bank in Bulgaria
  • 2012: In the course of the financial crisis, the stakes in the Polish Polbank and the Turkish Tekfenbank were sold, with Eurobank Ergasias taking in € 1.9 billion.
  • 2013: Eurobank took over TT Hellenic Postbank and New Proton Bank .

Others

Eurobank is also the acronym for the new building of the European Central Bank in Frankfurt-Ostend. Today's Eurobank Ergasias had been using the name Eurobank since 1997, before the ECB was founded.

In 2014, the American billionaire and investor Wilbur Ross invested € 1.3 billion in the bank. By September 2015, the value of his shares had decreased by almost 90%. Ross himself was unimpressed in the media. He has already invested several times in troubled credit institutions in North America, Ireland and Cyprus and made considerable profits.

In 2015, the German investor Marcus Rupp made several equity investments in EFG Eurobank Ergasias.

In 2019 it became known that the Eurobank Group will in future rely on Temenos' core banking system .

Individual evidence

  1. ↑ Entry in the BIC directory at SWIFT
  2. ↑ http://www.handelsblatt.com/unternehmen/banken/griechenland-alpha-bank-sagt-fusion-mit-eurobank-ab/6327692.html
  3. ↑ http://www.nytimes.com/2013/04/09/business/global/national-bank-of-greece-and-eurobank-suspend-talks.html?_r=0 Greek Banks Suspend Merger Talks - Article in the New York Times
  4. ↑ Temenos receives order from the Eurobank Group. In: cash.ch . June 3, 2019, accessed June 10, 2019 .

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