{"id":6142,"date":"2014-07-10T14:37:58","date_gmt":"2014-07-10T14:37:58","guid":{"rendered":"https:\/\/hfsf.odh.gr\/?p=6142"},"modified":"2021-01-07T13:41:35","modified_gmt":"2021-01-07T13:41:35","slug":"interim-financial-statements-of-the-hellenic-financial-stability-fund-for-the-period-ended-31-3-2014","status":"publish","type":"post","link":"https:\/\/hfsf.odh.gr\/en\/interim-financial-statements-of-the-hellenic-financial-stability-fund-for-the-period-ended-31-3-2014\/","title":{"rendered":"Interim Financial Statements of the Hellenic Financial Stability Fund for the period ended 31-3-2014."},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6142\" class=\"elementor elementor-6142\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-189f8e41 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"189f8e41\" data-element_type=\"section\">\n\t\t\t\n            \t\t\t<div class=\"elementor-container elementor-column-gap-default \">\n\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2b38daac\" data-id=\"2b38daac\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap  elementor-element-populated\">\n\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2cbf806 elementor-widget elementor-widget-text-editor\" data-id=\"2cbf806\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\"><p><\/p>\n<p>Today, Thursday July 10th 2014, the Hellenic Financial Stability Fund (HFSF)<br \/>announced its interim financial statements for the period ended 31 March 2014.<\/p>\n<p>The main points of the report are:<br \/>1. <b>Profit for the period was \u20ac1,445 million <\/b>mainly due to the positive<br \/>revaluations of the Fund\u2019s equity portfolio and the negative impact of the<br \/>increase of the valuations of the warrants.<br \/>2.<b> Interest income was \u20ac19 million<\/b> mainly from the EFSF bonds held by the<br \/>Fund.<br \/>3. <b>There was no commission income<\/b> in 2014 as there was no underwriting<br \/>activity.<br \/>4. <b>Personnel and operating expenses were \u20ac1,480 thousand<\/b><br \/>5. <b>Investment Securities net of accrued interest were \u20ac10,933 million<\/b><br \/>6. <b>Cash and cash equivalents stood at \u20ac533m<\/b> increased from \u20ac489m<br \/>on 31\/12\/2013 mainly as a result of recoveries from the liquidations.<br \/>7. <b>The fair value of the Fund\u2019s shareholdings<\/b> in the four systemic banks was<br \/><b>\u20ac25.1 billion vs \u20ac22.6 billion<\/b> at year end 2013.<br \/>8. <b>The financial liability<\/b> arising out of the warrants issued increased to<br \/><b>\u20ac3.4 billion from \u20ac2.3 billion <\/b>at the year end.<br \/>9. <b>Significant events in 2014 per systemic bank<\/b><\/p>\n<ul>\n<li><b>Piraeus Bank:<\/b> a) The bank concluded a \u20ac1.75 billion share capital<br \/>increase through the issuance of 1,029,411,764 new common shares at<br \/>an issue price of \u20ac1.70 per share. Following the said share capital<br \/>increase the Fund\u2019s shareholding in the bank decreased from 80.95% to<br \/>67.30%.<br \/>b) On 7\/7\/2014 the bank announced that 4,951,260 warrants were<br \/>exercised at an exercise price of \u20ac1.77, which corresponded to the sale of<br \/>22,160,707 shares (0.36% of the bank\u2019s share capital). Following that the<br \/>Fund\u2019s shareholding in the bank decreased from 67.30% to 66.93%.<\/li>\n<li><b>Alpha Bank: <\/b>a) The bank concluded a \u20ac1.2 billion share capital increase<br \/>through the issuance of 1,846,153,846 new common shares at an issue<br \/>price of \u20ac 0.65 per share. Following the issue of the new shares on\u00a04\/4\/2014 the Fund\u2019s shareholding in Alpha decreased from 81.71% to<br \/>69.90%.\u00a0<\/li>\n<\/ul>\n<p>b) On 10\/06\/2014 60,899,318 warrants were exercised at an exercise<br \/>price of \u20ac0.46, which corresponded to the sale of 451,179,721 shares<br \/>(3.53% of the bank\u2019s share capital). Following that, the Fund\u2019s<br \/>shareholding in the bank decreased from 69.90% to 66.36%.<\/p>\n<ul>\n<li><b>National Bank of Greece:<\/b> The bank concluded a \u20ac2.5 billion share capital<br \/>increase through the issuance of 1,136,363,637 new common shares at<br \/>an issue price of \u20ac2.20 per share. Following the said share capital<br \/>increase the Fund\u2019s shareholding in the bank decreased from 84.38% to<br \/>57.24%.<br \/><span style=\"color: inherit; font-size: var( --e-global-typography-text-font-size ); font-weight: inherit; letter-spacing: 0px;\"><br \/><\/span><\/li>\n<li><span style=\"color: inherit; font-size: var( --e-global-typography-text-font-size ); letter-spacing: 0px;\"><b>E<\/b><\/span><span style=\"color: inherit; font-size: var( --e-global-typography-text-font-size ); letter-spacing: 0px;\"><b>urobank:<\/b><\/span><span style=\"color: inherit; font-size: var( --e-global-typography-text-font-size ); font-weight: inherit; letter-spacing: 0px;\"> The bank concluded a \u20ac2,864 million share capital increase\u00a0<\/span><span style=\"color: inherit; font-size: var( --e-global-typography-text-font-size ); font-weight: inherit; letter-spacing: 0px;\">through the issuance of 9,238,709,677 new common registered shares at\u00a0<\/span><span style=\"color: inherit; font-size: var( --e-global-typography-text-font-size ); font-weight: inherit; letter-spacing: 0px;\">an issue price of \u20ac 0.31 per share. Following the said share capital\u00a0<\/span><span style=\"color: inherit; font-size: var( --e-global-typography-text-font-size ); font-weight: inherit; letter-spacing: 0px;\">increase the Fund\u2019s shareholding in the bank decreased from 95.23% to\u00a0<\/span><span style=\"color: inherit; font-size: var( --e-global-typography-text-font-size ); font-weight: inherit; letter-spacing: 0px;\">35.41%.<\/span><\/li>\n<\/ul>\n<p>It should be noted that the Fund\u2019s participations are fair valued and any volatility in<br \/>the market is reflected on the Fund\u2019s balance sheet thus directly affecting its<br \/>profitability and its equity. As of today, July 10th 2014, the fair value of the Fund\u2019s<br \/>shareholdings in the four systemic banks is \u20ac18.5 billion.<\/p>\n<p>The Fund has also published <b>its half year activities report for the period January &#8211;<br \/>June 2014.<\/b><\/p>\n<p><strong><a href=\"https:\/\/hfsf.odh.gr\/wp-content\/uploads\/2020\/10\/HFSF_Interim_January_March_2014_en.pdf\" target=\"_blank\" rel=\"noopener\">Q1 2014 Financial Statements\u00a0<\/a><\/strong><\/p>\n<p><strong><a href=\"https:\/\/hfsf.odh.gr\/wp-content\/uploads\/2020\/12\/HFSF_Activities_Report_January_June_2014_en.pdf\" target=\"_blank\" rel=\"noopener\">H1 2014 Activities Report\u00a0<\/a><\/strong><\/p>\n<p><strong><a href=\"https:\/\/hfsf.odh.gr\/wp-content\/uploads\/2020\/10\/announcement_20140710_en.pdf\" target=\"_blank\" rel=\"noopener\">\u0391nnouncement<\/a><\/strong><\/p>\n<p><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Today, Thursday July 10th 2014, the Hellenic Financial Stability Fund (HFSF) announced its interim financial statements for the period ended 31 March 2014. The main points of the report are: 1. Profit for the period was \u20ac1,445 million mainly due to the positive revaluations of the Fund\u2019s equity portfolio and the negative impact of the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[20],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Interim Financial Statements of the Hellenic Financial Stability Fund for the period ended 31-3-2014. - Hellenic Financial Stability Fund<\/title>\n<meta name=\"description\" content=\"Today, Thursday July 10th 2014, the Hellenic Financial Stability Fund (HFSF)announced its interim financial statements for the period ended 31 March 2014.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interim Financial Statements of the Hellenic Financial Stability Fund for the period ended 31-3-2014. - Hellenic Financial Stability Fund\" \/>\n<meta property=\"og:description\" content=\"Today, Thursday July 10th 2014, the Hellenic Financial Stability Fund (HFSF)announced its interim financial statements for the period ended 31 March 2014.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/hfsf.odh.gr\/en\/interim-financial-statements-of-the-hellenic-financial-stability-fund-for-the-period-ended-31-3-2014\/\" \/>\n<meta property=\"og:site_name\" content=\"Hellenic Financial Stability Fund\" \/>\n<meta property=\"article:published_time\" content=\"2014-07-10T14:37:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-07T13:41:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/hfsf.odh.gr\/wp-content\/uploads\/2020\/09\/hfsf-icon.png\" \/>\n\t<meta property=\"og:image:width\" content=\"710\" \/>\n\t<meta property=\"og:image:height\" content=\"828\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"2 minutes\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/hfsf.odh.gr\/#website\",\"url\":\"https:\/\/hfsf.odh.gr\/\",\"name\":\"Hellenic Financial Stability Fund\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/hfsf.odh.gr\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/hfsf.odh.gr\/en\/interim-financial-statements-of-the-hellenic-financial-stability-fund-for-the-period-ended-31-3-2014\/#webpage\",\"url\":\"https:\/\/hfsf.odh.gr\/en\/interim-financial-statements-of-the-hellenic-financial-stability-fund-for-the-period-ended-31-3-2014\/\",\"name\":\"Interim Financial Statements of the Hellenic Financial Stability Fund for the period ended 31-3-2014. - Hellenic Financial Stability Fund\",\"isPartOf\":{\"@id\":\"https:\/\/hfsf.odh.gr\/#website\"},\"datePublished\":\"2014-07-10T14:37:58+00:00\",\"dateModified\":\"2021-01-07T13:41:35+00:00\",\"author\":{\"@id\":\"https:\/\/hfsf.odh.gr\/#\/schema\/person\/6ab52d0e7e520e35657eef987a95074c\"},\"description\":\"Today, Thursday July 10th 2014, the Hellenic Financial Stability Fund (HFSF)announced its interim financial statements for the period ended 31 March 2014.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/hfsf.odh.gr\/en\/interim-financial-statements-of-the-hellenic-financial-stability-fund-for-the-period-ended-31-3-2014\/\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/hfsf.odh.gr\/#\/schema\/person\/6ab52d0e7e520e35657eef987a95074c\",\"name\":\"spetroula\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/posts\/6142"}],"collection":[{"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/comments?post=6142"}],"version-history":[{"count":8,"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/posts\/6142\/revisions"}],"predecessor-version":[{"id":12064,"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/posts\/6142\/revisions\/12064"}],"wp:attachment":[{"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/media?parent=6142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/categories?post=6142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/tags?post=6142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}