ATHENS – “The offering of 22% of shares of National Bank of Greece to foreign and Greek investors was oversubscribed and this is an extremely positive development for National Bank and the country’s banking system,” Minister of National Economy and Finance Kostis Hatzidakis said on Friday.

“However, it is also a development that follows other recent positive developments in the banking system, the successive upgrades of the credit rating of the Greek economy in recent months, as well as corresponding positive ratings for the country by international organisations. I would like to thank the Hellenic Financial Stability Fund administration whose direction, preparation, organisation and implementation of the public offering contributed to the success. It is indicative that this particular transaction was the most successful in the last three years in the EU in terms of the demand manifested and the minimisation of the sale price discount. It is a source of optimism for our banking system and the Greek economy,” the minister underlined.