ECONOMY

National Bank calls off sale of insurance arm

National Insurance workers are seen here in a file photo protesting in central Athens recently against the proposed sale of the company to an international partner by its parent, National Bank. The lender, Greece’s largest bank, announced yesterday that it has called off plans to find an international partner for its insurance business after the ‘serious crisis’ that has hit international financial markets. ‘National Bank continues to believe in the growth prospects of the insurance sector in Greece, Southeastern Europe and Turkey,’ the bank said in a statement. National Bank, which has operations in 12 countries, has said it wants to focus on developing bancassurance products in Greece and the broader region.