Eurobank Ergasias

The Euromerchant Bank SA (Ευρωεπενδυτική Τράπεζα ΑΕ,[5] lit. transl. euro-investment bank) was founded in 1990.[6] It took over 75% of EFG Private Bank (Luxembourg) S.A.'s operations, which was integrated into it 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 SA changed its name to EFG Eurobank S.A. and in 2000 to EFG Eurobank Ergasias S.A. after taking over the renowned Ergasias Bank. A financial products subsidiary was founded 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 of that year Eurobank was deconsolidated from the group and its shares sold to the Greek Latsis family and it 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.

The bank was the third largest in Greece by total asset 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 has been Nikolaos Karamouzis; Fokion Karavias has been the CEO and executive director since the same day.[9] Canadian fund Fairfax Financial are major shareholders.

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

• In 1998, 78.23% of Bulgarian Postbank was taken over.
• In 2000 Acquisition of a 19.25% participation in Bancpost in Romania, which was later increased
• In 2002 EFG Eurobank Ergasias – Telesis Investment Bank merger. Acquisition of 50% in Alico / CEH Balkan Holdings leading to a 43% participation in Postbank Bulgaria
• In 2003 Merger through absorption of "Ergoinvest S.A.". Merger by absorption of "Investment Development Fund S.A.". Establishment of Euroline Retail Services (Romania) - 80% Eurobank Cards and 19.961% Bancpost. Establishment of Eurocredit Retail Services (Cyprus) as a 100% subsidiary of Eurobank Cards.
• In 2004 Establishment of Euroline Retail Services AD (Serbia) - 100% subsidiary of Eurobank Cards
• In 2006 Acquisition of 100% of Nacionalna štedionica–banka in Serbia and forming Eurobank a.d.
• In 2006 Acquisition of 70% of Tekfenbank in Turkey, 99.3% of Universal Bank in Ukraine and 74.3% of Bulgarian Postbank in Bulgaria
• On 23 December 2012, Eurobank sells all its shares (70%) of the Tekfenbank to Kuwait's Burgan Bank.[10]
• On 16 January 2015, Eurobank asks Greek Central Bank for Emergency Liquidity Assistance (ELA) [11]
• On 17 July 2015 the subsidiary Postbank (Bulgaria) buys the Bulgarian branches of fellow Greek lender Alpha Bank.
• In April 2018, its Romanian subsidiary, Bancpost, was sold to Banca Transilvania, the largest Romanian bank.

Eurobank a.d. is a bank founded in 2006, with headquarters in Belgrade, Serbia. It is a subsidiary Eurobank Ergasias; and has 80 branches in Serbia. Eurobank started operating in Serbia in 2003. The first five years were marked by the acquisition of Postbanka, followed by the merger with Nacionalna štedionica Banka. In October 2006, the bank began operating under a single brand, name and visual identity.[12][13] In 2016, the bank had €1.337 billion in assets and revenue of €18.42 million.[12]

• Banking in Greece
• List of banks in Greece
• List of companies of Greece

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