The Greek Eurobank will buy up the branches of "Alpha Bank" in Bulgaria, Reuters reported, citing a source from the Eurobank.
"The managements of the two banks will meet later today to finalize the deal," the source said.
According to the information of Reuters Alpha Bank will sell its branches for the nominal sum of € 1. It is operating at a loss.
The banks in Greece have been closed for two weeks and suffer serious losses, which is why they are preparing for mergers and to close some branches.
As part of an earlier agreement with Greece's creditors banks agreed to restructure their operations by selling off their assets on the Balkans and focusing on the Greek market, Reuters reminds.
About 1/5 of the Bulgarian banking sector is owned by Greek credit institutions. Eurobank owns the Bulgarian Postbank, and Alpha Bank operates in the country through branches controlled by Athens, not through a subsidiary.
Eurobank Bulgaria has assets of 5.9 billion leva, while its profit for the first quarter of this year was 20.8 million.
Banking expert Emil Hursev explained in an interview for the national radio that the acquisition of banks was a normal practice and evidence of the good state of the Greek Eurobank.
It is clear that the change of ownership will in no way be felt by customers of Alpha Bank.
Копирано от standartnews.comThe Greek Eurobank will buy up the branches of "Alpha Bank" in Bulgaria, Reuters reported, citing a source from the Eurobank.
"The managements of the two banks will meet later today to finalize the deal," the source said.
According to the information of Reuters Alpha Bank will sell its branches for the nominal sum of € 1. It is operating at a loss.
The banks in Greece have been closed for two weeks and suffer serious losses, which is why they are preparing for mergers and to close some branches.
As part of an earlier agreement with Greece's creditors banks agreed to restructure their operations by selling off their assets on the Balkans and focusing on the Greek market, Reuters reminds.
About 1/5 of the Bulgarian banking sector is owned by Greek credit institutions. Eurobank owns the Bulgarian Postbank, and Alpha Bank operates in the country through branches controlled by Athens, not through a subsidiary.
Eurobank Bulgaria has assets of 5.9 billion leva, while its profit for the first quarter of this year was 20.8 million.
Banking expert Emil Hursev explained in an interview for the national radio that the acquisition of banks was a normal practice and evidence of the good state of the Greek Eurobank.
It is clear that the change of ownership will in no way be felt by customers of Alpha Bank.
