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4-Traders Homepage  >  Equities  >  CYPRUS STOCK EXCHANGE  >  Hellenic Bank Public Company Ltd    HBNK   CY0105570119

HELLENIC BANK PUBLIC COMPANY LTD (HBNK)
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Hellenic Bank Public : Cyprus approves Hellenic Bank buyout of Cooperative Bank

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06/15/2018 | 08:44pm CEST

NICOSIA, Cyprus — The finance minister of Cyprus says the government has approved Hellenic Bank's multibillion-euro offer to take over the island nation's troubled Cooperative Bank.

Finance Minister Harris Georgiades said that under the in-principle deal reached Friday, Hellenic Bank will manage 9.7 billion euros ($11.25 billion) worth of client deposits.

Hellenic, which also is based in Cyprus, will also absorb 10.3 billion euros ($12 billion) in assets — including loans, bonds and cash — and operate 72 Cooperative Bank branches while employing 1,100 of its approximately 2,600 workers.

Georgiades says another 8.3 billion euros ($9.62 billion) of Cooperative Bank's assets will be taken over by the state. The sum includes 7 billion euros ($8.12 billion) worth of bad loans.

The minister says the deal is subject to European Union approval.

© 2018 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials (€)
Sales 2018 134 M
EBIT 2018 61,2 M
Net income 2018 -
Debt 2018 -
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
Capi. / Sales 2018 1,12x
Capi. / Sales 2019 1,11x
Capitalization 149 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Average target price 0,85 €
Spread / Average Target 14%
Managers
NameTitle
Ioannis A. Matsis Chief Executive Officer & Executive Director
Evripides A. Polykarpou Non-Executive Chairman
Lars Kramer Chief Financial Officer & Executive Director
Marianna Pantelidou Neophytou Non-Executive Director
Marinos S. Yannopoulos Non-Executive Vice Chairman