ECONOMY

National Bank to bid for Emporiki, report says

Greece’s National Bank will submit a bid for Credit Agricole’s struggling Greek unit Emporiki, banking sources told Reuters on Monday.

“National Bank will make an offer for Emporiki,» one banking executive close to the talks said on condition of anonymity.

The deadline for submitting offers is August 8, banking sources have told Reuters.

National’s Greek rival Eurobank is also expected to make a bid, while Alpha Bank has already offered to buy the unit. [Reuters]