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NBG eyes Ukraine, Russian, Egyptian markets October 3, 2007

Posted by grhomeboy in Business & Economy.
Tags: , , , ,

The National Bank of Greece, Greece’s largest lender, is interested in expanding its activities to the Ukrainian, Russian and Egyptian markets, its CEO told financial daily Naftemporiki yesterday.

“The Ukrainian market has been monitored for a long time and is our first choice under the right conditions,” Takis Arapoglou was quoted as saying. “We are equally scrutinizing the Egyptian and Russian markets in case banks come up for sale which meet our criteria.”

National Bank, with a current market capitalization of 21.2 billion euros, had attempted to buy a small Ukrainian bank earlier this year. The group derives about 40 percent of its core profit from Southeast Europe and Turkish operations.

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