The Repeat Extraordinary Shareholders’ General Meeting of EFG Eurobank Ergasias, held today. | Eurobank
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The Repeat Extraordinary Shareholders’ General Meeting of EFG Eurobank Ergasias, held today.

The Repeat Extraordinary Shareholders’ General Meeting of EFG Eurobank Ergasias, held today (November 29, 2004), approved the free-of-charge distribution of 700.000 shares to the Bank’s employees and associated companies, which will result from a capital increase through capitalization of € 2.065.000, the amount being part of the special reserve for own shares which was created by December 31, 2002.
The Repeat Extraordinary Shareholders’ General Meeting of EFG Eurobank Ergasias, held today (November 29, 2004), approved the free-of-charge distribution of 700.000 shares to the Bank’s employees and associated companies, which will result from a capital increase through capitalization of € 2.065.000, the amount being part of the special reserve for own shares which was created by December 31, 2002. At the same time, the General Meeting proceeded with the amendment of its decision of April 5, 2004, allowing holders of stock options of the 2005-2007 program, of a total number of 1.550.000 shares, to exercise said options during December 2004 with an additional cost of € 0,30 per share.
Addressing the Shareholders, EFG EUROBANK’s Chief Executive Officer Nicholas Nanopoulos referred to the progress of operations, stressing that during the first three quarters of 2004 the Bank’s net profits rose 44%, as opposed to the results of the same period in 2003. This is the greatest increase witnessed on a percentage basis among all major Greek banks, while on an annualized basis it corresponds to a 32% increase of profits per share, thus, exceeding on a large measure the objective set by the Bank’s Management for an annual growth above 20% for year 2004. Mr. Nanopoulos also referred to the progress made in connection with various figures and pointed out that EFG EUROBANK’s organic profits totaled €326 million, a fact testifying to the Group’s dynamic presence and strong position in the totality of market sectors. The Group’s cost to revenue ratio improved further, reaching 48,6%, while exclusively for the Group’s operations in Greece this ratio is limited to 46%. These positive developments which reflect EFG EUROBANK’s growth in market share allowed the bank to distribute to its Shareholders an interim dividend of € 0,30 per share, payment of which will begin on Wednesday, December 15, 2004. It is worth noting that EFG EUROBANK is the first Greek bank to proceed with an interim dividend distribution. Taking into account the share’s capital gains from the beginning of the year and the interim dividend, total return to Shareholder’s exceeds 45%. (CEO) N. Nanopoulos also announced that the participation of foreign institutional investors in EFG EUROBANK’s share capital has risen significantly, reaching 21% as compared to 16% in the beginning of the year.