PIRAEUS BANK

The large drop in bank shares this time is due to external reasons and has nothing to do with the situation of banks or the economy, which has great growth prospects despite the challenges posed by the war in Ukraine, the energy crisis and the global economy.

The plan provides for securing bank lending on the same terms for all joint ventures that will bid for the 25-year concession contract of Attiki Odos. For example, all bidders will have access to a loan of 2 billion euros on equal terms and the rest will come from equity. 

What the bank's CEO Chr. Megalou said on the new business plan, the creation of a new digital bank, the dividend distribution, the economy, and the impact of the crisis in Ukraine.

Η ελληνική χρηματιστηριακή προχωρά και σε αναβάθμιση των εκτιμήσεών της για τα κέρδη προ φόρων, τόκων και αποσβέσεων της Mytilineos για το 2022.

The consolidation of the bank in combination with the strong growth prospects of the domestic economy drew institutional portfolios and it is no coincidence that the lender’s share capital hike attracted new long-term investors, who had not previously invested in Greece like the Norwegian Norges pension fund.

2021, according to what CEO Christos Megalou told analysts yesterday, will be a key year for reducing non-performing exposures, which is estimated to reach 12 billion euros in total.

All indications are that SSM will not allow for the repayment of the 165 million euros, triggering the conversion of the CoCos into shares.

Τhe sharp drop in share price and shrinking of the bank's market capitalization to 283 million euros has raised concerns about the transmission of the crisis to other banks.

Developments seem to be accelerating after a group of shareholders announced their proposal for a share capital hike at the bank, accompanied by a series of terms and conditions that make its implementation difficult.

Based on the Forbes billionaire list, Mystakidis had $1.1 billion in assets in April 2020, down from $2.1 billion a year earlier as the capitalization of Glencore had fallen sigificantly - a company in which he holds more than 3 percent, despite the fact that since the end of 2018 he has withdrawn from management duties.