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Alpha and Eurobank Agree to Merge

Two of Greece’s three biggest lenders, Eurobank EFG and Alpha Bank have reached an agreement to merge, according to reports, which would create one of the biggest banking groups in the broader region.
The team-up between the two lenders would create Greece’s biggest bank with assets of 150 billion euros ($217 billion), more than 2,000 branches and about 80 billion euros in deposits. Qatar private investors who already have a stake in Alpha will participate in the new entity, according to one person. Chairman of the new lender will be Yannis Costopoulos, the present chairman of Alpha Bank, one person said.
Skai radio reported on Saturday that the second and third Greek banks in terms of assets and capitalization have now struck a deal that will be announced formally in the next few days.
(source: kathimerini)

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