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Marfin Popular Bank eyeing Russian acquisition October 17, 2007

Posted by grhomeboy in Business & Economy.
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Marfin Popular Bank, which has bought three foreign banks over the past two months, is considering an acquisition in Russia as part of its plans to expand internationally, the lender said yesterday.

“Marfin Popular… is considering the purchase of a bank in Russia. Investors will be informed promptly if final decisions are taken,” the lender said in a stock exchange filing. No further details were given.

MPB on Monday agreed to buy a 43 percent stake in Maltese lender Lombard Bank Malta (LBM) for 48.3 million euros ($68.78 million). Earlier this month, MPB’s parent Marfin Investment Group (MIG) bought a 50.1 percent stake in Estonian Bank SBM for about 6.5 million euros. The stake was transferred to MRB.

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