ECONOMY

Alpha, Attica, Eurobank and National bid for TT

Four local lenders reportedly submitted offers for the healthy side of Hellenic Postbank (TT) to the Hellenic Financial Stability Fund (HFSF) on Friday, beating forecasts for two to three suitors for the state-owned and managed lender that will be split in two.

Along with the expected offers by Alpha and Attica Bank, HFSF is said to have received separate bids by National Bank and Eurobank Ergasias, given that their merger is still pending.

All four bids have been forwarded to the European Commission for evaluation, whose result will become known by next Friday, January 11, with a view to the selection of the preferred bid by January 15.

After that, the Bank of Greece will begin the process of breaking up Hellenic Postbank into a “good” and “bad” side, with the healthy side sold to the successful suitor and the bad one liquidated, in the same way that ATEbank was split and sold to Piraeus.