Alpha Bank, one of Greece’s four largest banks, has agreed to sell its Albanian unit to Hungary’s OTP Bank, it said on Monday.
OTP Bank will pay €55 million to buy a 100% stake in the asset, Alpha Bank said.
The deal will create a leading banking group in Albania, which will hold shares of about 11% in the market based on assets, Alpha Bank added.
The transaction is expected to be completed in 2022. [Reuters]