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GreekReporter.comBusinessEurobank Acquires Postbank Too

Eurobank Acquires Postbank Too

eurobank1_533_355The troubled private bank Eurobank is expected to take over the more troubled state financial institution Hellenic Postbank, the country’s banking stabilization agency HFSF said. The new operation will be called New Postbank (NTT).
The HFSF and Eurobank will cooperate towards a binding agreement which will be signed on July 15 according to the official announcement.  Four Greek banks, Alpha Bank, National Bank, Eurobank and Piraeus Bank Group participated in the process and are awaiting further recapitalization monies from the government.,
Goldman Sachs, which had been accused of worsening Greece’s crushing financial crisis, is acting as financial advisor to the HFSF for that transaction.
Eurobank had taken over the failed Proton Bank earlier. That had collapsed after its chief shareholder was accused of handing out huge loans without collateral and is being charged with corruption. .

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