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Polbank s sale transaction completed

Eurobank EFG transferred today 70% of its Polish banking subsidiary (“Polbank EFG”) to Raiffeisen Bank International (“RBI”) after obtaining the relevant approvals from the Polish Financial Supervision Authority (KNF). Starting today, Polbank EFG and RBI Poland (RBI’s Polish banking subsidiary) are combined and once merged will operate under “Raiffeisen Polbank”.
The Polbank transaction has already increased Eurobank EFG’s EBA Core Tier I by a capital equivalent of approx. €450 million or 100 bps and will improve Eurobank EFG`s liquidity by €1.5 billion.
Moreover, Eurobank EFG exercised today its put option on its 13% stake in Raiffeisen Polbank, which will result in an additional cash payment of over €1.3 billion over the next few months for Eurobank EFG`s remaining equity stake and remaining liquidity made available to the combined Polish entity.