On the occasion of a scheduled event for the Greek media, Mr N. Nanopoulos, CEO of Eurobank EFG, responding to questions from members of the press, made the following statement:
“The shares of Greek banks in the recent period have suffered unjustified pressure. This is not consistent with the fundamentals of the Greek and the regional markets, nor does it reflect the banks’ prospects.
As far as our Bank is concerned, business growth in the past quarter has been very satisfactory. Second quarter results are expected to be higher than those of the first quarter driven mainly by organic sources. The Bank’s capital adequacy stands very strong and its net asset value remains essentially unchanged despite the dividend payment in May. It is noteworthy that, for yet another quarter, net deposit additions are higher than net loan additions, thus further improving the loan / deposits ratio. As a result Eurobank EFG currently enjoys a very strong liquidity position.
The analysis of our shareholders’ registry does not indicate any significant reduction in the positions of our long-term institutional investors, which suggests that recent market activity may include short-selling trading positions.”
Eurobank EFG will release its official results for the first half of 2008 on Wednesday, July 30th.