1929 Foundation

Agricultural Bank of Greece is founded as a non-profit organisation, provider of credit to the agricultural sector. The bank mainly aims at implementing programmes for financing both the activities of the primary sector of the economy and the processing and marketing of agricultural products, and enhancing rural development.

1950 Expansion of activities in the agricultural sector

Agricultural Bank founds a number of companies, which produce farming products and exploit resources all over the country.

1990 Expansion of activities in the non-agricultural sector

Agricultural Bank of Greece expands in the non-agricultural sector, by developing both a broad branch network all over Greece and a variety of new financial products and services. 

1991 Transition to S.A.

Agricultural Bank becomes S.A., broadens the spectrum of banking and financial services and acquires participating interests in specialised financial companies, thereby expanding the ABG group of companies.

2000 Entrance in the Athens Stock Exchange

Agricultural Bank increases its capital in order to enter Athens Stock Exchange, where its shares are listed since January 2001

2004 - 2006 STRENGTHENING OF THE CORPORATE IMAGE AND POSITIONING OF THE BANK

The Bank by implementing a wide range of reforms and restructuring programs, and developing its branch network competitiveness and productivity, manages to achieve high growth rates which are depicted in the financial statements of both the Bank and the Group.

In particular:

• A huge increase in the Bank’s share capital took place, amounting to € 1.25 billion (June 2005). This capital increase allowed the Bank to deal with the problems encountered after adopting the International Accounting Standards (IAS) and has hence contributed to the substantial reorganization of the Bank’s financial statements.

• The Bank implemented the Panotokia Law, which benefited in total 63.220 debtors of whom 54.000 were farmers. Loans written off amounted to EUR 1.8 billion of which EUR 1.1 billion concerned debts of farmers.

• In November 2005, the share of the Bank became a constituent of the FTSE/Athex 20 Index pertaining to large capitalization companies, asserting in the most clear and explicit manner the steady upward course of ATEbank.

• The Bank’s corporate identity was changed in association with the new logo “ΑΤΕbank” which was adopted, and the branches and ATMs were transformed and renewed.

• The Board of Directors distributed for the first time a dividend per share out of the profit for the year 2005.

• The Bank expands in the Balkans’ area by purchasing MINDΒank (July 2006) and getting permission for bancassurance operations in Romania.