The Minister of National Economy and Finance, Kostis Hatzidakis, described today as a “significant success” the allocation by the HFSF of 10% of the share capital of the National Bank, with “an achievement that constitutes a new record for the banking industry in the Greek market”.

The minister’s statement in detail:

“The privatization of 10% of the National Bank that has just been completed is a significant success for the Greek economy. Especially if you take into account the fact that it coincided with a period of great insecurity in the markets due to the worsening of the crisis in the Middle East. Nevertheless, the international offer – with the participation of world-class institutional investors – was oversubscribed by 12 times and the total by 11 times. A performance that is a new record for the banking industry in the Greek market, while the share price was 42% higher than the issue that took place in November.

This privatization is the eleventh to be completed after the elections of June 2023. It is a record both the number of privatizations that took place and the revenues secured by the State through the HFSF and TAIPED, which exceed 7.8 billion euros .

The privatization program is a vote of confidence by foreign and Greek investors in the prospects of the Greek economy and the banking system in particular. Congratulations to the management of the HFSF and Ethniki”.