19 November 2017
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NBG disposes off its subsidiary in Romania

27 July 17 - RE+D Magazine
NBG disposes off its subsidiary in Romania

COMPANIES

PROPRIUS

Consultant - GREECE

PEOPLE

National Bank of Greece on Thursday announced the signing of a definitive agreement with ΟΤP Bank Romania for the sale to OTP of its 99.28 pct stake in its Romanian subsidiary Banca Romaneasca and of a portfolio of Romanian-risk corporate loans.

 

The Transaction is expected to increase National Bank Group's CET1 ratio by 5 bps and, taking into account the repayment of the intra-group debt, strengthen its liquidity position by 650 million euros.

Leonidas Fragkiadakis, NBG CEO said: "The sale of BROM reaffirms our commitment to the successful implementation of the Bank’s restructuring plan and will further strengthen our capital ratios and liquidity position”. Closing of the transaction is subject to approval from the National Bank of Hungary, the National Bank of Romania and anti-trust approvals.

Credit Suisse International is acting as exclusive financial advisor to National Bank. Freshfields Bruckhaus Deringer is acting as international legal counsel and PeliFilip as local legal counsel to National Bank.

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