Eurobank Ergasias

Bancpost Greece Alpha Bank
Eurobank Ergasias SA
Native name
Τράπεζα Eurobank Ergasias AE
Anonymi Etairia
Traded asAthexEUROB
ISINGRS323003012 Edit this on Wikidata
IndustryFinancial services
HeadquartersAthens, Greece
Number of locations
653 branches (Q3 2018) (Greece 350, of which 138 New TT Hellenic Postbank)
Key people
Nikolaos Karamouzis (Chairman)
Fokion Karavias (CEO)
Corporate Banking
RevenueDecrease1.882 billion (2017)[1]
Decrease€894 million (2017)[1]
Decrease€104 million (2017)[1]
Total assetsIncrease€62.395 billion (Q2 2019)[1]
Total equityDecrease€7.150 billion (2017)[1]
Common Equity Tier 1 =13.1% (Fully Loaded Basel III)
OwnerFairfax Financial Holdings (17.29%)[2]
Number of employees
13,209; 9,076(Greece);4,133 (abroad) Q3 2018[3]
Eurobank offices in Nicosia, Cyprus
The Eurobank is the official sponsor of the Museum of Aviation (Belgrade)

The Eurobank Group is a financial organisation that operates in 6 countries Greece, Cyprus, Luxembourg, Serbia, Bulgaria and UK. The Eurobank Group counts (data as of at 31.12.2018[4]), €58.0 billion in assets, 653 customer service locations in Greece and abroad and 13,162 employees.


In 1990 the "Euromerchant Bank SA"[5] (Ευρωεπενδυτική Τράπεζα ΑΕ,[6] 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[7]

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.[8] 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.[citation needed]

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.

Since 1 February 2015 the chairman and non-executive director of Eurobank Ergasias S.A. is Nikolaos Karamouzis; also since the same day its CEO and executive director is Fokion Karavias.[9] Canadian fund Fairfax Financial are major shareholders.[citation needed]

In the end of year 2015 results, total net loans were Euro 39.9 bn (non performing 43.8%, of which provisions were at 53.3%) customer deposits Euro 31.4 bn and central bank funding Euro 24.3bn.

Major acquisitions

See also


  1. ^ a b c d e
  2. ^ Μαυρογιωργη, Φαιδρα. "Τράπεζες στα χέρια των Funds". Retrieved 17 August 2017.
  3. ^ "Profile -". Retrieved 17 August 2017.
  4. ^ "The Eurobank Group". Retrieved 2019-07-31.
  5. ^ "EFG Eurobank Ergasias - History". Archived from the original on 7 August 2011. Retrieved 23 April 2018.
  6. ^ "Eurobank Ergasias". Retrieved 17 August 2017.
  7. ^ "Greece's EFG Eurobank to split from EFG Group". Reuters. July 23, 2012.
  8. ^
  9. ^ "Eurobank Ergasias". Archived from the original on 17 August 2017. Retrieved 17 August 2017.
  10. ^ "Burgan Bank Concludes Purchase of Eurobank Tekfen". Bloomberg. 2012-12-23. Retrieved 2015-01-16.
  11. ^ "Greece's Eurobank, Alpha Bank Ask Central Bank for Emergency Liquidity Assistance". Wall Street Journal. 2015-01-16. Retrieved 2015-01-16.