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Athens News Agency: News in English, 10-07-15

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Piraeus Bank eyes acquisitions
  • [02] Rise at ASE opening

  • [01] Piraeus Bank eyes acquisitions

    Piraeus Bank chairman Michalis Sallas on Thursday announced a proposal for the Group's acquisition of major stakes in Athens-listed ATEbank and TT Hellenic Postbank.

    Sallas announced Piraeus Bank Group's intention for a "simultaneous and coordinated" acquisition of a major 77.31 percent stake in ATEbank and 33.04 percent stake in TT Postbank for 770 million euros.

    Piraeus Bank S.A., the parent company of the Piraeus Bank Group, was founded in 1916 and is the fourth largest bank in Greece, specialising in SMEs, retail banking, e-banking and capital markets.

    In 2000 it absorbed Xiosbank and Macedonia-Thrace Bank, and ETBAbank in 2003, thus creating one of the largest private banks in the country.

    ATEbank was established in 1929 as the Agricultural Bank of Greece (ATE).

    TT Hellenic Postbank was established in 1902 as the Greek Postal Savings Bank (TT).

    [02] Rise at ASE opening

    Equity prices were rising at the opening of trade on Thursday on the Athens Stock Exchange (ASE), with the basic share price index up 1.83 percent, standing at 1,602.66 points at 11:30 am, and turnover at 29.350 million euros.

    Individual sector indices were moving mostly upward, with the biggest gains in Banks, up 3.59 percent; and Commerce, up 2.39 percent.

    The biggest losses were in Construction, down 1.32 percent; and Food & Beverage, down 1.06 percent.

    The FTSE/ASE 20 index for blue chip and heavily traded stocks was up 1.70 percent, the FTSE/ASE MID 40 index was up 0.76 percent, and the FTSE/ASE-80 small cap index was up 1.35 percent.

    Of the stocks traded, 59 were up, 23 were down, and 16 were unchanged.

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