National Bank of Greece To Exit Romania, Other SEE Markets - Press

10.03.2013 By Bogdan Neagu

National Bank of Greece has agreed with the European Union's competition authorities to exit the Southeastern European markets where it currently operates, including Romania, Greek newspaper Kathimerini reported Wednesday.

Kathimerini reports the Greek lender will have to withdraw from the markets of Bulgaria, Romania, Serbia, the Former Yugoslav Republic of Macedonia and Albania. NBG will retain, however, a majority stake in its Turkish subsidiary, Finansbank, according to the deal with the Directorate General for Competition.

NBG controls Banca Romaneasca, which was the 12th largest bank by assets in Romania at the end of 2012, with a market share of 1.9%

Newspaper website: www.ekathimerini.com