Sale of Banka NBG Albania Sh.A

Τετάρτη, 07 Φεβρουαρίου 2018 23:16

National Bank of Greece S.A. (“NBG” or the “Bank”) has entered into a definitive agreement for the sale of its entire stake (100%) in its subsidiary, Banka NBG Albania Sh.A. (“NBG Albania”) to American Bank of Investments SA (“ABI”). The transaction is being implemented in the context of NBG’s Restructuring Plan and in-line with its commitments towards European Commission’s DG Competition.

The transaction is capital accretive to NBG (based on Q3 2017 CET 1 ratio) and is subject to customary regulatory and other approvals, including from (i) the Bank of Albania and (ii) the Competition Authority of Albania. 

UBS Limited is acting as exclusive financial advisor to NBG. Freshfields Bruckhaus Deringer LLP and CR Partners are acting as international and local legal counsels, respectively, to NBG. Kerameus & Partners is acting as legal counsel to ABI.

About NBG Albania

NBG Albania started operating in Albania in 1996 as the Tirana Branch of NBG. In 2012, it became a fully-licensed, independent bank and since then it operates as a 100%-owned subsidiary of NBG. NBG Albania offers a wide spectrum of financial products to its retail and corporate clientele, including lending products, deposits, trade finance, cash management and treasury services amongst others.

About ABI

American Bank of Investments SA, is a wholly owned subsidiary of Tranzit Sh.p.k, an Albanian non-banking financial institution focused on providing flexible financing options to companies and individuals. ABI is licensed to perform credit and deposit activities, payment services in Albania and abroad as well as other banking activities in accordance with Albanian laws.