Greek ATE Bank to sell Romanian branch.

By bne IntelliNews May 26, 2011
Greek state-owned ATE Bank financial group decided to sell its majority stake in Romanian branch ATE Bank Romania, under the bank's restructuring plan, approved earlier this week by the European Commission, Ziarul Financiar daily reported. The Greek financial group will sell the Romanian branch along its Serbian branch and other assets. The deal is likely to be completed this year, but in any case no later than end-2012. ATE Bank Romania held RON 1.8bn (EUR 430mn) in assets as at end-2010 and ranked 24th in the countrys banking market with a 0.56% share in terms of assets. Greek ATE Bank group controls 74.12% of the Romanian branch, while IFC holds 15% and the Romanian cooperatives federation UNCM - another 7.36%. ATEs Romanian branch also operates an insurance division, ATE Insurance.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Romania to spend EUR 37mn in 2013 to close down loss-making coal mines.

Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more

Romanias Hidroelectrica sells nearly 0.3TWh of electricity on free market.

Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more

Romania to start privatisation of cargo railway company on April 6-8.

The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    5 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss