ECONOMY

NBG to fully absorb Probank by December 9

The process for the incorporation of Probank into the National Bank of Greece network is in full swing.

NBG’s plans foresee the completion of the operational merging in the coming weeks so that from Monday, December 9, all branches will operate through National’s systems.

Only one in three Probank branches will remain open and these will operate as NBG branches. Seventy-eight out of the total 112 Probank branches will be used for administrative purposes by NBG or shut down entirely.

After the completion of the merger, the NBG group will own 550 branches in Greece. NBG sources say there will be no layoffs and that the bank’s management is aiming to keep on all existing Probank staff. Of particular interest is the expertise Probank employees possess in catering to small and medium-sized enterprises.