GREEK BANKS MERGE

tvnportal
1.3K
11 views
  • About
  • Export
  • Add to
STORY: GREEK BANKS MERGEDATELINE: Aug. 30, 2011LENGTH: 0:01:46LOCATION: AthensPKGINTRO:Greece's second and third largest banks are due to merge.The move, announced by EFG Eurobank and Alpha Bank on Monday, will receive financial backing from Qatar.Economy Report has the details.PKG:In a press conference held in Athens on Monday, the new bank's name was officially unveiled as "Alpha Eurobank".Before the merger, the two private banks were the second and third largest Greek bank in terms of assets and capitalization, following the Greek National Bank.The new bank will boast combined assets of up to 146 billion euros and market capitalization of about 2.5 billion euros, making it Greece's largest private bank.It will also have 1,300 bank branches in eight countries, with around 30,000 employees and over 8 million customers.Furthermore, it includes a fresh capital boost, aiming to raise around 3.9 billion euros in rights issue and convertible bonds, aided by the state-owned Qatar Investmen Powered by www.newslook.com Producer : Xinhua News Agency

0 comments