In the hands of foreign investors, the 4 major Greek banks – How the divestment of the HFSF changed the stock market

The upper hand is now held by foreign investors, after its divestments Since PSI, capital controls and recapitalizations with state support, Greek banks are now able to attract strong private capital and have entered the international long-term investor agenda. The positions of the National Bank and Piraeus Bank, as well as the exit of the TSS from Alpha Bank and Eurobank, proved it to be very close. It is noted that the three of the four systemic banks have gone into the private sector, while the TCS maintains 18% in the National Bank, which will be allocated to foreign and Greek investors over the coming months. The picture presented today by the equity composition of each of the four large banks is as follows: At Piraeus Bank, 80% are international investors and 20% domestic. Of the foreign investors who received Piraeus Bank shares, exclusively long-term investors are 88% and the remaining 12% hedge funds. 43.3% of Piraeus’ new foreign investors come from the US, 30.9% from the United Kingdom, 20.5% from the European Union, 4.8% from Asia and 0.5% are of other origin. Among the international names in the Bank’s new stock register are: Goldman Sachs, Pictet, Redwheel, Wellington, Singapore, Lazard, Vanguard, Robeco, Fiera, Fine investment, Millennium, Marshall Wace etc. The largest shareholder of the Bank remains John Paulson with 18.62%. At the National Bank, international investors control 80% of the share capital and the remaining 20% Greek investors. In the top ten of long-term international investors entering the National Bank’s stock register include names such as Fidelity, BlackRock, Capital, Norges, Lazard, Allianz, Singapore GIC State Fund, Wellington, American investment fund RWC and Robeco, a large Dutch asset management company. As of November 2023, the EFSF has held 18.39% of the EIB. In addition to the Fund and The Capital Group Companies, Inc., no shareholder (natural or legal person) holds a percentage equal to or greater than 5% in the Bank. In Alpha Bank, 8.9781% of the share capital held by the TCS was acquired by the Italian Unicredit, which became the first foreign bank to invest in Greece after 17 years. Today on Alpha Bank’s stock register there are 107,000 investors, with Unicredit being the largest shareholder with 9.6%. Foreign institutionalists control 74% of the Bank (including names such as Norges, Lazard, Allianz etc.), Greek institutionalists hold 5% and 11% in the hands of natural and legal persons. Of the private shareholders (natural persons) large shareholder with a percentage of just over 9% is Dutch Henry Holterman, head of Reggeborgh Invest, while with a percentage of just under 5% remains at the Bank American investors John Paulson. In Eurobank, lastly, with the repurchasing of 1.4% of its shares by the HFSF, the shareholder composition is formed as follows: Fairfax Financial Holding with a rate of 32.93%, institutional investors abroad with a rate of 47.73%, the American financial group The Capital Group Companies (CGC) with 5.05 %, Helikon Investments with 5%, institutional investors of the home with 4.07% and non-institutional (other legal persons and individuals) with 5.22%. Among the major foreign names that are shareholders of Eurobank are the Fund Capital, the Singapore government’s subeign health fund (GIC), Brookfield, Pimco and RWC.