Greece readies sale of National Bank stake, seeking foreign investors

Further moving to re-privatize financial institutions, Greece has initiated the sale of up to 12% of its stake in the National Bank of Greece (NBG), with the country’s Hellenic Financial Stability Fund (HFSF) currently holding 18.4%.

The bailout fund had provided Greek banks with approximately €50 billion ($55.92 billion) during the 2010-2018 austerity and economic crisis, helping them return to profitability using taxpayer money. The state is now shifting away from controls.

Source: The National Herald