First round of HFSF's divestment from systemic banks concludes with 28 bln realised losses

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

The Hellenic Financial Stability Fund (HFSF), which was set up at the start of the debt crisis to support the banking sector, completed last week the first round of sales of its stakes in the four systemic banks, realising record losses for the Greek state.

The process of divestment started in October, when Eurobank bought back a small 1.4 pct stake from HFSF, acquiring roughly 52 million shares for a price of 1.8 euros/share.

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