A further three years at NBG for Karatzas

National Bank of Greece (NBG) Governor Theodoros Karatzas yesterday briefed Prime Minister Costas Simitis on deliberations for the election of five board members next month, according to a law which will specifically apply to NBG – the country’s largest bank – and the Commercial Bank for the first time. The five members include Karatzas and his deputy Andreas Vranas, whose re-election the present board intends to propose to shareholders, while the other three will reflect shareholder composition, sources said. Simitis and Karatzas were also said to have discussed the state of the Greek banking sector, prospects for boosting its competitiveness and the proposal by Economy Minister Nikos Christodoulakis for a further reduction of state interest in both NBG and Commercial earlier this week.

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