Eurobank
A major Greek banking group serving retail, business, corporate and investment-banking customers in Greece and selected Southeast European markets.
Last updated October 14, 2026
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Overview
Eurobank Ergasias, generally marketed as Eurobank, is a Greek banking group headquartered in Athens. Its principal activities include retail banking, small-business and commercial banking, corporate and investment banking, private banking, asset management, payments and related financial services. The group’s core franchise is in Greece, while its international operations have historically included Cyprus, Bulgaria, Romania, Serbia, Luxembourg and the United Kingdom. The modern Eurobank business was created from the expansion of Euromerchant Bank, founded in 1990, and a succession of mergers and acquisitions involving Greek banks. Its development combined organic branch growth with the purchase or integration of institutions such as Interbank Greece, the Greek operations of Crédit Lyonnais, Cretabank, Ergasias Bank, Telesis Investment Bank, New Proton Bank and New TT Hellenic Postbank. The bank’s name evolved from EFG Eurobank to EFG Eurobank Ergasias and later to Eurobank Ergasias as its ownership and corporate structure changed. Eurobank grew rapidly during the years before the Greek sovereign-debt crisis, building a regional presence across the Balkans. It also entered markets including Poland, Turkey, Ukraine and Romania, although several of those businesses were later sold or exited. The crisis brought severe pressure on Greek banks through recession, deposit outflows, impaired loans and dependence on central-bank liquidity. A proposed combination with Alpha Bank in 2012 was abandoned, and the Greek bank was separated from its former Swiss-Luxembourg-based parent structure. Eurobank subsequently participated in the restructuring and consolidation of the Greek banking sector, including the acquisition of New TT Hellenic Postbank and New Proton Bank in 2013. A major later priority was the reduction of non-performing exposures. In 2019 the group announced a merger with Grivalia Properties, a transaction that strengthened its capital position and increased the influence of Fairfax Financial, a significant investor. Eurobank also pursued loan-securitisation and balance-sheet-cleanup measures during the 2020s. The group remains subject to direct European Central Bank supervision as a significant institution within the European Banking Union. The international portfolio has continued to change. Eurobank sold its Serbian subsidiary to AIK Banka in 2023 and completed the acquisition of a controlling interest in Cyprus’s Hellenic Bank during 2024–2025. The Hellenic Bank transaction increased Eurobank’s position in Cyprus and was followed by a mandatory offer for the remaining shares and a merger of Hellenic Bank with Eurobank Cyprus in September 2025. As a result, Cyprus became an even more important international market for the group, while the historical Serbian, Romanian, Turkish and Ukrainian operations no longer form part of its principal network. The Eurobank brand therefore represents a consolidated Greek financial-services group rather than a single historic bank. Its current identity rests on a domestic universal-bank franchise, regional operations led by Cyprus and Bulgaria, digital and transactional banking capabilities, and continued management of credit quality and capital efficiency. The bank’s shares are listed on the Athens Exchange under the symbol EUROB.
History
Eurobank was established in Greece in 1990 during a period in which the country’s financial system was becoming more competitive and increasingly integrated with European markets. It grew by developing a modern retail and corporate banking proposition and by acquiring or establishing operations that broadened its product range and geographic reach. The Eurobank name became associated with personal banking, business finance, capital-markets services and wealth management. During the 1990s and 2000s, the group expanded beyond Greece, particularly into southeastern Europe. Its regional platform included banking activities in Bulgaria, Romania, Serbia and Cyprus at different points in its history, although the composition of the network changed as the group reviewed its portfolio. Eurobank also developed activities connected with Luxembourg and the United Kingdom, supporting private banking, investment services, international clients and group operations. This regional orientation distinguished the bank from a purely domestic Greek retail institution. The Greek sovereign-debt crisis placed severe pressure on Eurobank and the wider banking system. Falling economic activity, deposit outflows, market disruption and the deterioration of borrowers’ repayment capacity produced substantial asset-quality problems. Eurobank took part in the sector’s recapitalization process and became subject to the same supervisory, capital and restructuring requirements as Greece’s other systemic banks. In 2013, it absorbed New Proton Bank and Hellenic Postbank, strengthening its domestic franchise while also taking on the operational and integration work associated with those institutions. The crisis period also brought changes in ownership, governance and corporate organization. Eurobank operated for a period within the framework of the National Bank of Greece group before later returning to an independent listed holding-company structure. The group’s listed entity became Eurobank Ergasias Services and Holdings S.A., while Eurobank S.A. served as the principal banking company. This distinction is important: Eurobank is the customer-facing banking brand, whereas the listed holding company is the entity associated with the EUROB ticker. In the late 2010s and early 2020s, the strategic priority shifted toward restoring asset quality and creating a more efficient bank. Eurobank used securitizations, portfolio disposals, loan restructurings and related balance-sheet measures to reduce legacy non-performing exposures. The transformation was supported by the broader Greek banking clean-up framework and by changes in the group’s legal and financial structure. At the same time, management invested in digital channels, process automation, customer-service improvements and a more focused branch model. Eurobank has continued to combine a large Greek franchise with selective international operations, especially in Cyprus, Bulgaria and Serbia. Its activities span individuals, small and medium-sized enterprises, large corporates, institutions and private clients. The bank’s current identity is therefore both domestic and regional: it is a systemic institution in Greece, while its international subsidiaries and cross-border capabilities provide additional diversification and support for Greek and regional companies. Eurobank remains an active banking group under the Eurobank brand.
- 2021
Completion of the corporate transformation
[2]The group completes key elements of its transformation and continues reducing legacy non-performing exposures.
- 2019
Holding-company reorganization
[2]Eurobank advances a legal and balance-sheet restructuring that separates the listed holding company from the principal banking entity.
- 2015
Fokion Karavias becomes chief executive
[3]Fokion Karavias takes the group chief executive role and subsequently leads its restructuring and transformation programme.
- 2013
Integration of New Proton Bank and Hellenic Postbank
[2]Eurobank absorbs the two institutions as part of the restructuring and consolidation of Greece’s banking sector.
- 1990
Eurobank is established in Greece
[1]The banking business is founded and begins building a Greek financial-services franchise.
Products and positioning
Systemic Greek bank and full-service financial group with a regional southeastern European footprint.
Retail banking
Personal Banking
Eurobank’s personal-banking proposition includes deposits, current accounts, payment cards, consumer credit, housing finance, payments and digital access. Products are distributed through branches and electronic channels and are aimed at everyday household financial needs.
SME banking
Business Banking
Business banking serves freelancers, small companies and medium-sized enterprises with accounts, working-capital facilities, loans, payments, cash-management tools and business cards. The offering is designed around the operating and financing requirements of Greek businesses.
Corporate and investment banking
Corporate and Investment Banking
The corporate and investment-banking platform provides lending, trade finance, treasury, transaction banking, structured finance, capital-markets services and advisory support. Its clients include large companies, institutions and organizations with complex financing or cross-border requirements.
Private banking and wealth management
Private Banking
Eurobank Private Banking provides wealth-management and investment services for high-net-worth clients. The proposition combines advisory and portfolio services with access to banking, financing and investment products, subject to the applicable regulatory framework.
Digital banking
Digital Banking
Eurobank’s online and mobile channels allow customers to manage accounts, payments, cards and selected banking applications without relying exclusively on branches. Digital modernization has been a central part of the group’s efficiency and customer-experience strategy.
Brand decisions
2019
Balance-sheet and legal-structure transformationStrategyBackground
High non-performing exposures and the need for stronger capital efficiency led Eurobank to pursue a broad transformation programme.
Action taken
The group reorganized its listed holding structure and used securitizations and portfolio transactions to address legacy problem loans.
Aftermath
The programme supported a simpler group structure, improved asset quality and a greater focus on the core banking franchise.
2013
Absorption of New Proton Bank and Hellenic PostbankM&ABackground
The acquisitions took place during the consolidation and resolution of Greece’s banking sector following the sovereign-debt crisis.
Action taken
Eurobank integrated the two institutions into its banking platform.
Aftermath
The transactions expanded Eurobank’s domestic franchise and required substantial operational and systems integration.
Recent events
- 2025
Eurobank reaches 93.47% of Hellenic Bank[4]
M&A · Regulation
Eurobank announced that its ownership of Hellenic Bank had reached 93.47% and launched a mandatory offer for the remaining shares.
- 2025
Hellenic Bank merges with Eurobank Cyprus[4]
M&A
The merger was completed in September 2025, ending the standalone Hellenic Bank brand within the combined Cypriot operation.
- 2024
Eurobank acquires a minority stake in ANT1 and Makedonia TV[4]
M&A
Through a subsidiary, Eurobank acquired approximately 2.3% of the shares of the Greek media companies ANT1 and Makedonia TV.
- 2024
Eurobank becomes controlling shareholder of Hellenic Bank[4]
M&A
Eurobank completed the acquisition of a 26.1% stake in Hellenic Bank, taking its total holding to approximately 55.9%.
- 2024
Eurobank increases Hellenic Bank stake and announces a full bid[4]
M&A
Eurobank raised its holding in Hellenic Bank to 68.81% and announced its intention to make an offer for the remaining shares.
- 2023
Eurobank sells Serbian subsidiary to AIK Banka[4]
M&A
Eurobank agreed to sell its Serbian banking operation, Eurobank Direktna, to AIK Banka for approximately €280 million, ending its direct banking presence in Serbia.
- 2022
Eurobank continues expansion and investment in Cyprus[2]
Other
The group continued to develop its Cypriot banking platform as part of its southeastern European regional strategy.
- 2021
Eurobank completes merger of banking and holding-company structures[2]
M&A
The group implemented a corporate restructuring that separated the listed holding-company structure from the banking operating entity and supported its balance-sheet transformation.
- 2021
Eurobank advances non-performing-exposure reduction programme[2]
Other
The bank continued securitizations, portfolio transactions and other measures designed to reduce legacy non-performing exposures and improve asset quality.
- 2013
Eurobank absorbs New Proton Bank and Hellenic Postbank[2]
M&A
Eurobank completed the integration of New Proton Bank and Hellenic Postbank after the restructuring of the Greek banking sector.
Sources4 sources
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