Athens News Agency: News in English, 06-05-31
CONTENTS
[01] Garganas positive on acquisition of Turkish bank
[01] Garganas positive on acquisition of Turkish bank
Bank of Greece Governor Nikos Garganas on Wednesday appeared positive
regarding the planned acquisition by Athens-quoted National Bank of
Greece of Turkey's Finansbank.
However, he clarified that "these evaluations of his, are based on the
evaluations which have been made by four international reliable firms."
Garganas, who briefed Parliament's Finance Committee, assessed that the
National Bank of Greece can face the adverse changes from danger
factors, noting that simulation has been conducted and from the
assessment of data, it arises that the National Bank of Greece will not
be significantly burdened.
"Even a heated incident in the Aegean cannot rattle the group of the
National Bank after the acquisition of Finansbank," Garganas said.
Regarding the agreed cost of the acquisition, which the opposition
deputies describe as very high, the Governor of the Bank of Greece
noted that "it is not far from the intermediate assesssments of the
four international firms which ranged from 4.7 and 6.7 billion
dollars."
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