National Bank of Greece

The European Bank for Reconstruction and Development (EBRD) on Monday announced it has successfully completed its first transaction in the agribusiness sector in Greece by providing 10 million euros in long-term financing to Loulis Mills, a leading company in the Greek flour milling industry.

National Bank of Greece expects to sell its subsidiary Ethniki Insurance this year and plans other sales as part of its restructuring, its chief executive said on Wednesday.

Last month Greece's second largest lender hired Goldman Sachs and Morgan Stanley as advisers on the sale of the insurance unit, banking sources close to the deal said.

National Bank of Greece agreed to sell a 99.1 percent stake in its Bulgarian unit United Bulgarian Bank (UBB) and its fully owned leasing subsidiary Interlease EAD to Belgian bank KBC Group, National Bank said on Friday.

Belgium-based KBC group has finalized the purchase of the United Bulgarian Bank (UBB) and leasing company Interlease, according to its own statement.

The deal, with a price tag of EUR 610 M, gives KBC control over 99.9% of the bank's shares and 100% of Interlease.

KBC is the owner of CIBank and insurance company DZI in Bulgaria.

The National Bank of Greece Cultural Foundation is currently hosting "Memos Makris: From Athens to Paris 1934-1950," at the Eynard Mansion in central Athens.

The European Investment Bank (EIB) launched a one billion euro credit line to Greek banks on Thursday to be channeled to small and medium-sized companies and firms promoting youth employment.

National Bank of Greece announced on Thursday it has proceeded to the repayment of contingent convertible bonds (CoCos) amounting to 2.03 billion euros which it issued in December 2015 and were held by the Hellenic Financial Stability Fund (HFSF).

[Reuters]

The Hellenic Financial Stability Fund and National Bank of Greece on Thursday announced they had reached an agreement to end their dispute over the appointment of the lender's new president.

Belgian bank KBC and Hungarian lender OTP Bank have made offers to acquire United Bulgarian Bank (UBB), the Bulgarian subsidiary of National Bank of Greece (NBG), according to banking industry sources.

National Bank of Greece aims to have the binding bids for the sale of its subsidiary Ethniki Insurance within the first quarter of 2017. According to the group's commitment in its restructuring plan, the sale must take place in the first half of next year, but bank sources say the process will begin in January.