Eurobank Equity (IFC-37645)

Countries
  • Greece
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 25, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
EUROBANK ERGASIAS S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 54.83 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 50.00 million
Converted using 2015-12-25 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 31, 2018

Disclosed by Bank Nov 24, 2015


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Project Description

The project finances an equity investment Eurobank Ergasias S.A. to support its recapitalization by participating in a private placement in the form of a Book Building Process, which is the systematic process of generating, capturing, and recording investor demand for shares during an initial public offering.

Investment Description
  • International Finance Corporation (IFC)

The project consists of a straight equity investment by IFC of up to EUR 50 million in Eurobank Ergasias S.A. Prior to the BBP the Bank’s largest shareholder was the Hellenic Financial Stability Fund with a shareholding of 35.41%, while the remaining 64.59% were held by institutional and retail investors in Greece and internationally.

Private Actors

The Bank is one of the four systemic banks in Greece, providing key banking product and services. As at 30 September 2015, the Bank had €73.8 billion, €51.7 billion and €30.5 billion in consolidated total assets, gross loans/advances to customers, and customer deposits, respectively. As at 30 September, 2015, it had a network of 927 branches (retail and corporate) in Greece and the other six countries in which it operates, and a total workforce of 16,662 employees. The Bank’s international presence covers Romania, Bulgaria, Serbia, Ukraine (available for sale), Cyprus and Luxembourg (including, in the latter jurisdiction, a banking subsidiary with one branch in Luxembourg and a branch in the United Kingdom).

Contact Information

*No contacts available*

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