“Our banking system is changing from today. From the time of the crisis and the recapitalizations, to the time when high-quality investors are expressing, as has been seen in the last months, their interest in all systemic Greek banks”, emphasizes the Minister of Finance.
After the completion of the sale of Piraeus Bank shares, the Minister of National Economy and Finance, Kostis Hatzidakismade the following statement:
“The success of the sale of 27% of its shares Bank of Piraeus to foreign and Greek investors is unprecedented! It is not only that the investment interest expressed was 8 times greater than the offer. They are also the prices offered. It is indicative that the sale price of the shares was formed at levels higher than the closing price of the Stock Exchange last Friday, before the start of the process! This is extremely rare worldwide as in such cases of mass offering of shares the prices are almost always set at a discount in favor of the buyers.
No one should also forget the very difficult position that Piraeus Bank was in in 2019. This further underlines the magnitude of today’s success.
Our banking system is changing the page from today. From the time of the crisis and the recapitalizations, to the time when high-quality investors are expressing their interest in all systemic Greek banks, as was seen in the last months.
The latest developments reward the strategy of the management of the Financial Stability Fund which prepared and organized the process effectively.
They underline the correctness of the government’s choices, not only for the way and the time the disinvestment of the State proceeded, but also more generally for the banking system itself. And they are finally a very serious national success!
The government’s job in this new era for our banking system is two things: To ensure conditions that allow the operation of a corrupt banking system. And to adopt every initiative that ensures competition between banks as is done in advanced European countries. And that’s what we’re going to do.
Because strong banks that will operate competitively by offering more products and options to their customers, is a benefit for households. Business benefit. Benefit for the national economy.
Source: Skai
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