Eurobank Ergasias already belongs to the National Bank of Greece

The Greek Eurobank Ergasias already officially belongs to the National Bank of Greece (NBG), Greek media reported, cited by BTA. NBG is the owner of UBB in Bulgaria and Eurobank – of Postbank. At the end of January, the Bulgarian Commission for Protection of Competition (CPC) allowed UBB to acquire Postbank. The merger in Bulgaria is a consequence of the decision made in Greece for the merger between NBG and Eurobank. The permission was issued by the owner of NBG but the merger in our country is between the two subsidiaries. The same procedure is applied in the other countries where these banks operate - Romania, Serbia and Cyprus.

After the successful transaction, NBG acquires 84.35% of the share capital of its largest competitor - Eurobank. The Greek banks are under pressure to merge, having suffered heavy losses from the three-year crisis and the write-off of part of the Greek debt. The market value of NBG €27.1 bn and that of Eurobank is €250 mln, reported Bloomberg.

After the merger, the institution will be named NBG Group and will have assets of €178 bn, extended loans of €110 bn and deposits of €87.9 bn.

Прочети цялата новина

Свързани новини: