Eurobank to distribute EUR 2bn to real economy in 2015

“The bank targets new loan disbursements of €2.0 bn in 2015, of which €1.6 bn to businesses and €0.4 bn to individuals”, Eurobank΄s CEO Mr Megalou said. 

Further, Eurobank has the systems in place for the implementation of the new legislation for bad loans. The settlement costs for the SME loans should be manageable as they are already more than 50% covered by provisions. 

He also said that the preference shares (€950 mn) will be largely repaid with the bank΄s organic profitability. He also ruled out the possibility of a capital increase, adding that 2015 should be a profitable year for Eurobank with GDP expected to grow by 0.8% in 2014 and 2.5% in 2015.