Eurobank is a financial organisation that operates in Greece, Cyprus, Luxembourg, Serbia, Bulgaria and the UK. As of December 2018, the Eurobank Group counts, in assets, 653 customer service locations in Greece and abroad, and 13,162 employees. History The bank was incorporated in 1924 as “V. Karavasilis Tobacco Company and Bank SA”. In 1937 it was renamed “Karavasilis Bank SA” and in 1952 “Professional Credit Bank SA”. In 1964 it was acquired by the National Bank of Greece, who renamed it Bank of Athens in 1992. The Euromerchant Bank SA (, ) was founded in 1990. It took over 75% of EFG Private Bank (Luxembourg) S.A.'s operations in 1994. In 1997 it was renamed EFG Eurobank SA and acquired Interbank Greece SA and the branch network of Crédit Lyonnais Grèce SA. In February 1999 EFG Eurobank SA merged with Cretabank SA. In March 1999 Bank of Athens merged with EFG Eurobank SA. In 2000 the bank changed its name to EFG Eurobank Ergasias SA after taking over the renowned Ergasias Bank. In 2002 it acquired Telesis Investment Bank, followed by UnitBank in 2003. A financial products subsidiary was founded in 2007 (49.9% owned by employees). In 2012, the bank sold 70% of the Polish branches called Polbank to Raiffeisen Bank International. In 2012, the Spiros Latsis associated Eurobank EFG merger with Giannis Kostopoulos's () Alpha Bank was cancelled because of the Greek debt crisis. The proposed merger included a capital boost from Qatar Investment Authority of 500 million euro convertible bond and a 1.25 billion euro rights issue which would have Qatar Investment Authority a major shareholder and from Southeast Europe's biggest bank with assets of 150 billion euros and 80 billion euros of deposits. After the Greek financial crisis and bailouts of Greek banks in 2012, Swiss-Luxembourg based EFG Group—the then owner of Eurobank—was told to separate the Greek bank from the rest of its business. In July of that year Eurobank was deconsolidated from the group and its shares sold to the Greek Latsis family and it was renamed Eurobank Ergasias. In January 2013, the National Bank of Greece made an offer, which ultimately did not go through, to take over Eurobank Ergasias; 64,000 Eurobank shareholders and the Greek capital market commission agreed. Later in 2013 Eurobank acquired New TT Hellenic Postbank and New Proton Bank. The bank was the third largest in Greece by total asset by