NBG boosts capital base by selling total stake in Finansbank

EconomyBanking Tags: Banking, NBG
Photo by MacroPolis
Photo by MacroPolis

National Bank of Greece (NBG) announced early on Tuesday that it has entered into a definitive agreement with Qatar National Bank (QNB) for the sale of a 99.8 percent stake in its Turkish arm Finansbank for a total consideration of 2.75 billion euros.

In addition, the group’s net loans are set to decrease by 17.5 billion euros to 46.3 billion after the transaction, while deposits are also set to be reduced by 13.9 billion to 41.9 billion. As a result, NBG would remain the largest Greek banking group ...

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