Piraeus Bank Bulgaria

Greece's third-largest lender, Eurobank, said on Friday that its Bulgarian subsidiary Postbank had concluded the acquisition of Piraeus Bank's Bulgarian unit after obtaining regulatory approvals.
The acquisition boosts Postbank's share in Bulgaria's banking market to more than 10 percent, ranking it third in terms of total loans, Eurobank said.

Greece's Eurobank said on Wednesday it had agreed to acquire Piraeus Bank Bulgaria for 75 million euros.

The completion of the transaction was subject to regulatory and supervisory approvals, the bank said, while the conclusion of the transaction was expected to take place during the first quarter next year. [Reuters]

Five suitors have tabled bids for the acquisition of Piraeus Bank Bulgaria, the relatively small subsidiary of the Greek lender in the neighboring country. They are four Bulgarian bidders, along with Greece's Eurobank.

Greek-owned banks in the Balkans region were open on Monday, paying out cash and issuing loans -- in contrast to Greece, where a bank holiday and capital controls went into force, Reuters reported.