EFG Eurobank to Buy Rest of NSB Shares
ATHENS, Greece (AP) - Greece's private EFG Eurobank Ergasias on Friday said it plans to own 100 percent of Serbia's Nacionalna Stedionica Banka, or NSB, after it pays euro35 million (US$42 million)for the shares it does not already own.
The bank said it signed an agreement in Belgrade with the Serbian government to acquire the remaining 37.7 percent stake.
EFG Eurobank said it will merge NSB with its existing Serbian unit, EFG Eurobank A.D. Beograd, and the new bank will focus on retail and corporate banking.
Based on 2005 data, it will have assets of euro276 million (US$333 million), euro189 million (US$228 million) in deposits, outstanding loans of euro122 million (US$147 million) and a share capital of euro54 million (US$65 million), EFG said.