ECONOMY

Autonomous funding by 2012

Eurobank EFG CEO Nicholas Nanopoulos is seen speaking during a shareholders meeting on Tuesday.

The lender, the country?s second largest, said it wants its units in Southeast Europe to be fully self-funded by 2012 and not to depend on their parent company.

?We are trying to optimize the funding of our banks in New Europe. Through local deposits and autonomous funding in the local or international market, by 2012 the total funding of our banks in New Europe should stop relying on the center,? Nanopoulos said.

Eurobank has grown its operations outside Greece with units in Romania, Bulgaria, Serbia, Turkey, Poland and Ukraine.

These units, which are expected to improve on last year?s performance in 2011, are helping to offset weak business at home.