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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%.