RReet­tuur­rn­ni­in­ngg ttoo pprri­iv­vaat­tee hhaan­nddss

Financial Mirror (Cyprus) - - FRONT PAGE -

The bank in Greece is on a path to re­turn to share­holder pri­vati­sa­tion, Eurobank Group CEO Me­ga­lou ex­plained, with 65% cur­rently in pri­vate hands, of which 60% rep­re­sents in­sti­tu­tion­als and 5% re­tail in­vestors. The rest is in the hands of the Hel­lenic Fi­nan­cial Sta­bil­ity Fund (HFSF).

“The fact that ma­jor in­vestors such as Cap­i­tal Re­search and Fair­fax have in­vested 550 mln and 300 mln eu­ros, re­spec­tively, is a vote of con­fi­dence in our prospects in Greece,” the CEO said. “Our own econ­o­mists have raised the growth prospects to 0.51.0% for 2014 and a pro­jected 2.5-2.9% for 2015, with tourism play­ing a very big role. In­vest­ments in new ven­tures, such as lux­ury re­sorts makes me very op­ti­mistic about the fu­ture,” he added.

Af­ter ab­sorb­ing the op­er­a­tions of Post­Bank (TT) and Pro­ton, Me­ga­lou said that the Group strength­ened its po­si­tion and now has the sec­ond best loans-to-de­posit ra­tio of 109% in Greece, af­ter a high of 130-140%.

Newspapers in English

Newspapers from Cyprus

© PressReader. All rights reserved.