BANCI | ENGLISH

Joint Announcement of Eurobank and Alpha Bank

Autor: Bancherul.ro
2015-07-20 13:09

Joint Announcement of Eurobank and Alpha Bank (press release):

ALPHA BANK S.A. (‘Alpha Bank’) and Eurobank Ergasias S.A. (‘Eurobank’) wish to announce that they have reached a preliminary agreement regarding the acquisition of Alpha Bank’s Branch in Bulgaria (‘Branch’) by Eurobank’s subsidiary in Bulgaria, Eurobank Bulgaria AD (‘Postbank’) (the ‘Proposed Transaction’). The Proposed Transaction is fully aligned with the restructuring plans for Alpha Bank and Eurobank, as approved by the European Commission in 2014, which specify, among other things, that each bank should focus its operations only on its core markets.

The Proposed Transaction covers the entire banking operations of Alpha Bank’s Branch in Bulgaria, which consist of deposits worth €254m and gross loans worth €410m. Upon completion of the Proposed Transaction, Postbank will have a network of more than 200 branches throughout the country and more than 3,000 employees.

With the acquisition of the Branch, Postbank is expected to strengthen its market position in the Bulgarian banking sector and expand its customer base in both the retail and corporate business banking segments. Following the completion of the Proposed Transaction, Postbank will become the fourth largest bank in Bulgaria ranked by deposits and loans.

Postbank is expected to benefit from significant synergies from the second year post completion of the acquisition, while maintaining its strong capital ratios and substantial liquidity buffers. On a Group level, the Proposed Transaction is expected to marginally improve Eurobank’s capital position.

The Proposed Transaction is capital neutral for Alpha Bank and is fully aligned with its commitment to focus its operations only on its core markets.

Until the completion of the Proposed Transaction, the customers of Alpha Bank will be served by the Branch for the whole spectrum of the services currently provided to them and from completion they will be served by Postbank’s retail network.

Completion of the Proposed Transaction is expected by end of 2015 following the execution of definitive transaction documentation and the obtaining of all approvals required to complete the Proposed Transaction in Bulgaria, Greece and from the relevant bodies of the European Union.

Mediobanca advised Eurobank on the Proposed Transaction while Citigroup advised Alpha Bank.

Important note: This release contains certain forward-looking statements. These forward-looking statements involve risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Due to these uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this announcement. Eurobank Ergasias and Alpha Bank disclaim any obligation to update any forward-looking statements contained in this announcement, except as required pursuant to applicable law.-

Comentarii

Adauga un comentariu

Adauga un comentariu folosind contul de Facebook

Alte stiri din categoria: ENGLISH

Merger of Alpha Bank and UniCredit Bank Romania

Press Release: "Alpha Services and Holdings announces a strategic partnership with UniCredit in Romania Merger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by total assets, with Alpha Bank retaining a detalii

National Bank of Romania (NBR) Board decisions on monetary policy

NBR Board decisions on monetary policy In its meeting of 4 April 2023, the Board of the National Bank of Romania decided: • to keep the monetary policy rate at 7.00 percent per annum; • to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum; • to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions. The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and detalii

ING posts 2022 net result of €3,674 million, dividend of €0.389 per share

ING press release: ING posts FY2022 net result of €3,674 million,
proposed final 2022 dividend of €0.389 per share

4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%
•
Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income
•
Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter
•
Risk costs declined to 17 bps of average customer lending

Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits
•
On a full-year basis, our primary customer base grew by 585,000 detalii

BT Financial Results as at 30 September 2022

BT Financial Results as at 30 September 2022 Banca Transilvania – sustained growth in customers and operations during the first nine months of the year "We continued our robust growth in the number of clients and transactions, with a dynamic well above the market average. We have been growing steadily and continued financing companies and individuals, despite the fact that the financial market is more fraught with uncertainty than ever and
the funding costs and capital requirements are additional factors driving the uncertainty in the economy. We remain committed to our objective - to be the main supporter of the economy and of the state for the development of Romania", states Mr. Ӧmer Tetik, Chief Executive detalii

Vezi toate stirile

10.11.2024

1 EUR = lei
1 USD = lei

Sursa BNR

Profil de Bancher

Simona Niţu,
Banca Comerciala Feroviara

... vezi profil

Toate Profilele

Profil de Banca

CPBR

vezi detalii

Toate Bancile

Filmul Parking, un cliseu plictisitor

Toate stirile

ING Bank

Toate stirile

Ultimele Comentarii

Bancnote vechi
Numar de ... detalii
Bancnote vechi
Am 3 bancnote vechi:1-1000000lei;1-5000lei;1-100000;mai multe bancnote cu eclipsa de ... detalii
Schimbare numar telefon Raiffeisen
Puteti schimba numarul de telefon la Raiffeisen din aplicatia Smart Mobile/Raiffeisen Online, ... detalii
Vreau sa schimb nr de telefon
Cum pot schimba nr.de telefon ... detalii
Eroare aplicație
Am avut ora și data din setările telefonului date pe manual și nu se deschidea BT Pay, în ... detalii

Nume	*
E-mail	*
E-mail prieten	*
Mesaj
Cod validare	*
	Tastati codul din imagine (doar cifre)
	195.154.184.126