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Piraeus Bank receives 5 bids for its Bulgarian business

According to a report from banks.com.gr, 5 binding bids have been received in the ongoing tender for Piraeus’s business in Bulgaria. 3 local lenders, a consortium of funds and the Greek Eurobank are, reportedly, interested in the assets. The latter owns Postbank, which it combined with the Bulgarian branch of Alpha Bank in 2015. This was the only deal between Greek banks after the introduction of new regulations aimed at shrinking their branches abroad. As of end of Q1’18, the assets of Piraeus Bank amount to BGN 2.9bn, 9th biggest in the sector. In its home market Piraeus is a market leader with total assets of EUR 63bn.

Source: banks.com.gr; FFBH

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