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Athens News Agency: News in English, 06-07-05

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Bank's rights issue 1.6 times oversubscribed

  • [01] Bank's rights issue 1.6 times oversubscribed

    National Bank, Greeceās largest financial institution, on Wednesday announced the successful completion of its 3-billion-euro rights issue to finance the purchase of Turkeyās Finansbank.

    The bank said the rights issue was 1.6 times oversubscribed. Details over the issue will be officially released on Thursday.

    National Bank agreed in April to buy 46 percent in Finansbankās equity capital. The new group to be created after completion of the deal will have total assets of 69 billion euros, it would operate a branch network of 1,059 units -of which 45 percent outside Greece- while consolidated pre-tax profits would reach 1.3 billion euros (based on 2005 results).


    Athens News Agency: News in English Directory - Previous Article - Next Article
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