His announcement is expected tomorrow, Monday Financial Stability Fund (THS) for its new disinvestment from the National Bank.

The offer book is expected to start on the same day, will last until October 2nd and will concern the disposal of 10% of the shares held by the HFSF in National Bank, from the approximately 18.3% it currently holds.

According to information from this percentage 15-20% will be allocated to retail while the rest to institutional and long-term investors with an allocation price to be determined based on the offer book.

The final percentage allocated to the Greek public offering will remain open, leaving the possibility for a larger percentage in the final allocation.

The previous one placement it took place in November 2023 and was completed with great success with the eventual disposal of the 22% interest held by the HFSF to the National Bank.

The transaction attracted very strong interest from investors in Greece and abroad, with the total demand exceeding the number of shares offered by 8 times.

In the intervening period until today, almost a year, National Bank has shown a further increase in its financial figures with proportionate profits after taxes in the first half of 20024 amounting to 670 million euros and organic profits after taxes at the group level of 646 million .euro, marking an increase of 26% and 27% respectively on an annual basis. At the same time, it renewed its corporate image.

As the managing director of the National Bank had mentioned Pavlos Mylonas from the floor of the Bank’s last annual ordinary general meeting, which approved the distribution of a dividend, for the first time after 16 years, “2023 was a landmark year for National Bank, with practical and widespread recognition of the effort of the last 5 years, in particular from the shareholders, from the supervisors, from the evaluation houses, from the customers but also from the wider society”.

On the occasion of the announcement of the half-year results, Mr. Mylonas had also emphasized the comparative advantages of its balance sheet, focusing also on the fact that loan disbursements marked a noticeable increase, reaching the highest levels in recent years amounting to 2.8 billion euros in second quarter 2024. In addition, net cash in H1 2024 strengthened by €1.1 billion year-to-date to €9.1 billion providing significant support to net interest income and further strengthening the unique liquidity advantage of the National Bank. At the same time, as emphasized, National Bank continues to focus strategically on the technological and digital optimization of its infrastructure, which will enable us to support the development course of the Greek economy, providing its customers with innovative financial solutions and an improved experience.

In his speech at the general meeting, the president of the National Bank Gikas Hardouvelishad emphasized that Ethniki has already turned the page and is playing a leading role in the development of the domestic banking system and the development course of the Greek economy. He emphasized the great change that has taken place in recent years and the significant improvement in all areas: from the transformation of the bank which is the work of years and permeates horizontally all its activities and its culture, its new identity as well as the adaptation of to modern international operating standards, to comply with ESG rules, to contribute to the economy and society.

The new disinvestment of the HFSF will be another stage in the long history of the bank that goes hand in hand with the newest Greek history that has completed 183 years of existence.