The Hellenic Financial Stability Fund (HFSF) has a 18% percentage in National Bank of Greece, about 27% of shares in Piraeus Bank and shares in Attica Bank.
The next step to be taken in the first quarter of next year is the sale of Piraeus Bank’s shares after the announcement of the 2023 results in February 2024. The sale of National Bank’s shares will be completed within the year, while the Fund will still have its percentage in Attica Bank, which will complete its merger with Pancreta in 2024.
The current legal framework for the operation of the HFSF defines the end of 2025 as the end date of the Fund’s operation and upgrades the goal of disinvestment as equal to its contribution to maintaining the financial stability of the Greek banking system for the benefit of the public interest.
The great success of the nationalization of the HFSF by the National Bank will be fully reflected today. However, based on the data so far, it is estimated that it was covered about 6.5 times on Wednesday, while today, when the issue expires, large private domestic investors are also expected to participate.
The sale of 22% by the State to the private sector comes at a time when the bank has increased profits, a healthy balance sheet and strong capital.
The share of the National Bank closed yesterday at 5.75 euros on the Athens stock exchange, down 0.86%, with a volume of 2.4 million shares and a capitalization of 5.26 billion euros.
The National Bank currently has liquidity close to 7.5 billion euros and recorded net interest income of 588 million euros in the third quarter and 1.64 billion euros in the nine months.
The bank’s return on equity was very high, approaching 21%, well above the European average. After all, this is one of the main reasons for the strong investment interest. Thus, the above data and the high funds lead to a dividend for 2023 which will possibly be around 25%, according to sources.
