Eurobank EFG
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Native name
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Τράπεζα Eurobank Ergasias AE |
|---|---|
| Anonymi Etairia | |
| Traded as | : OTC Pink: |
| Industry | Financial services |
| Founded | 1990 |
| Headquarters | Athens, Greece |
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Number of locations
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898 branches (Q1 2017) (Greece 462, of which 138 New TT Hellenic Postbank) |
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Key people
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Nikolaos Karamouzis (Chairman) Fokion Karavias (CEO) |
| Products |
Retail Private Corporate Banking |
| Revenue |
 €501.2 million (Q1 2017)
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€256.6 million (Q1 2017)
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| Profit |
€36.5 million (Q1 2017)
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| Total assets |
€65.7 billion (Q1 2017)
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| Total equity |
 €7.4 billion (Q1 2017) Common Equity Tier 1 =13.1% (Fully Loaded Basel III) |
| Owner | Fairfax Financial Holdings (17.29%) |
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Number of employees
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15,929; 9,790(Greece);6,139 (abroad) |
| Subsidiaries |
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| Website | www |
Eurobank Ergasias SA (Greek: Τράπεζα Eurobank Ergasias AE) is the third largest bank in Greece by total assets and fourth by market capitalisation of 1.83 billion euro as at 29 May 2017, with more than 860 branches globally and more than 490 throughout the country and leading market shares in high growth segments. It was part of Spiro Latsis group of companies. Eurobank Ergasias is based in Athens, Greece.
In 1990 the "Euromerchant Bank SA" (Ευρωεπενδυτική Τράπεζα ΑΕ, literally euroinvestment bank) was founded. With taking over 75% of EFG Private Bank (Luxembourg) S.A. this part was integrated in 1994. Acquisitions in Greece included Interbank Greece S.A. in 1996-97 and the branch network of Credit Lyonnais Greece S.A., 99.8% of Cretabank in 1998, Bank of Athens in 1999 and 50.1% of Ergobank.
In 1997 the "Euromerchant Bank" changend its name into "EFG Eurobank S.A." and in 2000 "EFG Eurobank Ergasias S.A." after taking over the renowned Ergasias Bank. The financial products subsidiary was found in 2007 (49.9% owned by employees). In 2012 the bank sold 70% of the Polish branches called Polbank to Raiffeisen Bank International.
After the Greek financial crisis and bailouts of Greek banks in 2012 Swiss-Luxembourg based EFG Group, the then owner of Eurobank, was told to separate the Greek bank from the rest of its business. In July that year Eurobank was deconsolidated from the group and the shares sold to the Greek Latsis family and was renamed Eurobank Ergasias
In January 2013 the National Bank of Greece made an offer, which ultimately did not go through, to take over Eurobank Ergasias; 64,000 Eurobank shareholders and the Greek capital market commission agreed. A few weeks after the buyout proposal NBG presented plans to reduce the staff of the new banking group, especially by means of encouraging early retirement.
In 2014 the bank was the third largest in Greece by total assets, by total loans and total deposits and the fourth by market capitalisation, as at December 2014.
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Wikipedia