Qatar’s QNB buys Greek NBG’s Finansbank for 2.7bn euros

December 22, 2015 9:13 AM

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DUBAI/ATHENS: Qatar National Bank SAQ , the Gulf region’s largest bank, reached an agreement with National Bank of Greece to acquire the latter’s entire 99.81 percent stake in Turkey’s Finansbank AS for 2.7 billion euros ($2.95 billion), the two banks said on Tuesday.

National Bank planned the sale of its Turkish unit to plug a capital shortfall identified in European Central Bank (ECB) stress tests in October.

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