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Athens Macedonian News Agency: News in English, 13-09-08

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

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

CONTENTS

  • [01] Eurobank completes acquisition of Hellenic Postbank and Proton Bank

  • [01] Eurobank completes acquisition of Hellenic Postbank and Proton Bank

    ANA-MPA -- "Verdana","sans-serif";mso-bidi-font-family:"Courier New";color:#0F1419; Eurobank on Monday announced the completion of the transfer of Hellenic Postbank's and Proton Bank's shares from the Hellenic Financial Stability Fund to Eurobank.

    The transaction was completed in line with a binding agreement reached between Eurobank and HFSF in July 15 for the purchase of 100 pct of a new Hellenic Postbank and new Proton Bank.

    "Times New Roman";mso-bidi-font-family:"Courier New";color:#0F1419;mso-ansi-language: Eurobank said the acquisitions will enhance its position in the Greek banking system, creating significant synergies of around 200 million euros annually, resulting basically from the integration of central services, IT systems and a reduced funding cost.

    The unification process of the two banks is expected to be completed in the next nine months.


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