National Bank: Countdown for the disposal of the shares of the HFSF

Inverse measurement near twenty-five days “runs” from today for the replacement of its shares held by the (FIC). Information indicates that the management of the EFSF will meet tomorrow (17.9.24) in order to give “line” to the consultant in relation to the share allocation rate. The latter (JP Morgan) has recommended up to the sale of 18.39% of the National Bank’s shares, which has the TSF, after finding strong investment demand for the whole package held by the TSF. It is stressed that the National Bank negotiates with a P/TBV index at 0.8x for ROTE index at 14% in 2026 and CET1 at 20% (or over 18% for adjusted CET1 at 14%). At the same time, it will have surplus funds of almost 40% of its capitalisation. These are the highest levels of capital reserves in the domestic banking sector, leading to the CET1 ratio and the EIB’s Total Capital Capacity Index to increase at the end of the first half of the first half of 2024 by around 50 p.m. and 70 p.m. from the beginning of the year, and to be formed at 18.3% and 20.9% respectively.