Eurobank-Alpha Bank set to become Romania’s third largest bank group - financiare.ro
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News » August, 2011 » 29 August 2011

Eurobank-Alpha Bank set to become Romania’s third largest bank group
29.08.2011, 21:02 | Finance-Banks | 1209 views



Greece’s second and third-largest lenders, Eurobank and Alpha Bank, are to merge as banks in the recession-hit eurozone member come under pressure to consolidate. Under the terms of the agreement, Alpha Bank shareholders will hold 57.5 per cent of the merged lender and Eurobank shareholders 42.5 per cent, english.rfi.fr reports.

The merger will create a bank with assets of EUR 150 bln , 80 bln in deposits and 2,000 branches in southeastern Europe. The freshly announced merger will propel their Romanian subsidiaries to the third position in the local system, from the lower half of the top 10 previously, according to a presentation of the Greek institutions, Mediafax informs.

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