ECONOMY

Finansbank confirms NBG considering sale

finansbank-confirms-nbg-considering-sale

Turkey’s Finansbank confirmed on Tuesday that parent company National Bank of Greece is considering ways to meet any potential capital shortfall, but added that no other decisions have yet been made.

Greek media reported on Monday that NBG was considering shedding all of its 99 percent stake in Finansbank, as part of a business plan it aims to submit to the European Union’s competition authority.

A source at Greece’s biggest lender told Reuters on Monday the bank was considering ways to meet any potential shortfall but had not finalized plans.

[Reuters]