ALPHA BANK COULD PAY DAMAGES FOR ABANDONING MERGER WITH EUROBANK

The Greek EFG Eurobank Group has initiated arbitration proceedings to obtain compensation from Alpha Bank following its shareholders’ decision to abandon the merger of the two credit institutions agreed last year, writes Financial Newspaper.

Alpha Bank and Eurobank last year wanted to form the largest Greek bank through a share swap. The aim of the merger was to better withstand the financial crisis, which has led to rising non-performing loan portfolios and falling deposits. According to www.zf.ro, locally this move would have created the third largest local bank by assets through the merger of Alpha Bank and Bancpost.

Leave a comment

Your email address will not be published. Required fields are marked *