National bank to hold EGM on Mon. to approve sale of Finansbank

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Greece’s National Bank will hold an extraordinary general meeting on Monday to approve the sale of its Turkish subsidiary Finansbank, the bank announced.

“After almost 10 years of successful presence in Turkey, NBG is selling Finansbank to fulfill its commitment to its shareholders and the European authorities,” CEO Leonidas Frangiadakis said in an announcement.

“With the completion of this action, NBG will be the strongest bank in the Greek banking market in terms of capital and liquidity, while NBG’s aim is to direct, on a new basis, its resources to restore economic activity in Greece,” he added.