BUSINESS

Eurobank to buy out Alpha Bank's branches in Bulgaria, official says

TAGS: Banking, Finance

Greece's Eurobank will buy out around 80 branches held by fellow Greek lender Alpha Bank in Bulgaria, an official at Eurobank told Reuters on Friday.

"The boards of the two banks will meet later in the afternoon to finalize the deal," the official said.

As part of commitments made in Greece's second bailout agreement, lenders committed to restructure their operations, selling off their assets held in the Balkans and focusing on the domestic market. [Reuters]

Online