Alpha confirms purchase of Citibank’s Greek retail ops
Alpha Bank, Greece’s fourth-biggest lender by assets, said on Friday it agreed to acquire Citibank’s retail banking operations in Greece at a price of 2 million euros ($2.72 million).
“Under the agreement, the acquired operations comprise Citi’s wealth management unit with customers’ assets under management of about 2.1 billion euros, out of which deposits of about 1 billion euros, net loans, mainly credit card balances, of 0.4 billion, as well as a retail branch network of 20 units which serves 480,000 clients,” Alpha said.
The statement confirms sources telling Reuters on Thursday that the deal was imminent. [Reuters]
