Eurobank to use merger to tackle €7bn of NPLs

By Jasper Cox
26 Nov 2018

A tie-up with real estate firm Grivalia will allow Eurobank to accelerate the reduction of its non-performing exposures, the Greek lender said on Monday. The country’s banks normally face equity dilution from writing down bad loans, under a law relating to deferred tax credits (DTCs), but Eurobank has found a structural way to get around that.

The proposed strategy will make Eurobank the best-capitalised bank in Greece and allow it to meet its NPL reduction plan two years ahead of schedule, the bank said, as it announced the merger with Grivalia on Monday morning.

The resulting entity “will be the undisputed leader in the ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.