HFSF sets out bank divestment strategy, marking final chapter in turbulent story

EconomyBanking Tags: Alpha, Banking, Eurobank, HFSF, NBG, Piraeus

The Greek authorities moved a step closer last week to their objective of divesting the state’s share in the systemic banks through the Hellenic Financial Stability Fund (HFSF) after the publication of the divestment strategy that was compiled by Rothschild and was approved by the Finance Ministry at the end of last year.

After three series of recapitalisations between 2013 and 2015, the state holds 40.39 pct in National Bank of Greece (NBG), 27 pct in Piraeus Bank, 9 pct in Alpha Bank, 1.40 pct in Eurobank and almost 63 pct in the smaller size Attica Bank.

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