ECONOMY

NBG not planning to sell Finansbank, daily reports

National Bank of Greece SA (ETE) is not planning to sell its Turkish unit Finansbank AS (FINBN), Sabah reported, citing Finansbank deputy chairman Sinan Sahinbas.

NBG continues to invest in Finansbank to support the unit?s growth, Sahinbas said, according to the Istanbul-based newspaper. Finansbank completed a capital increase in January, raising the total to 2.44 billion liras ($1.4 billion) via 116.3 million liras of rights shares and 3.67 million liras of free shares, it said on Jan. 16.

[Bloomberg]