Greece's Alpha Bank to Buy Ukraine's Astra Bank

Greece's Alpha Bank to Buy Ukraine's Astra Bank

Alpha Bank, Greece's third-largest lender, said on Thursday it reached a deal to buy a majority stake in newly established OJSC Astra Bank in Ukraine as part of plans to expand in the region, Reuters reported.

Alpha Bank said it agreed to buy 90 percent of Astra Bank at a price reflecting Astra's equity capital of 9 million euros ($14.2 million).

"With this acquisition, Alpha Bank gains a presence in a fast growing market in one of the largest countries in southeastern Europe," the lender said.

Astra Bank plans to set up a nationwide branch network by 2010, targeting 50 branches by the end of this year which will mean an investment of 130 million euros.

Ukraine's banking market has been on the radar screen of other Greek banks as well.

EFG Eurobank has acquired Universal Bank, Piraeus Bank has bought International Commerce Bank, Marfin Popular owns Marine Transport Bank and the Bank of Cyprus controls AvtoZAZ Bank.

Facebook Коментари

Добави коментар

Екипът на Ви благодари, че използвате кирилица за вашите коментари.
В случай, че коментарът Ви съдържа нецензурни квалификации и лични нападки или обиди на расова, сексуална, етническа или верска основа, той ще бъде изтрит от модератора на сайта.

Абонирайте се за електронния
информационен бюлетин на