Bancpost

The board of the Eurobank group is by September 15 expected to approve the split of its bank arm from the rest of the group. 
The bank will retain the Eurobank name, without the old Ergasias suffix. This forms part of the management's strategic plan for the streamlining of the bank's finances.

Prominent Greek banker Giorgos Michelis, who was appointed as Chairman of the Board of Attica Bank in late March, died on Saturday at the age of 69.

Michelis had many years of banking experience having served as CEO of Bancpost, a subsidiary of Greece's Eurobank in Romania, general manager of Emporiki Bank and executive vice president and chief operating officer at Egnatia Bank.

Eurobank will maintain its Balkan footprint in Bulgaria, Serbia and Cyprus after pulling out of Romania, its deputy CEO said on Tuesday, expecting the group's subsidiaries there to double their profitability over the next few years.

Greece's Eurobank said it is close to finalizing a deal to sell its Romanian subsidiaries to Banca Transilvania.

The potential sale is part of a restructuring plan agreed by Greece's third largest lender with European Union authorities, and includes Romanian units Bancpost, ERB Retail Servces IFN and ERB Leasing IFN.

Greece's Eurobank Ergasias said it expects the Bulgarian economy to expand by 3.8% in 2017 and to slow its growth to 3.5% in 2018.

Consumer price deflation of 0.8% in 2016 is expected to be followed by inflation of 1.6% in 2017 and 1.5% in 2018, the bank said in its Global Eeconomic and Market Outlook published on Wednesday.

Eurobank is in talks with Banca Transilvania to sell its subsidiaries in Romania as part of a restructuring plan agreed by Greece's third largest lender with European Union authorities.

The sale would close a decade-long chapter of ambitions by Eurobank and other Greek lenders to spread their wings abroad after the country's debt crisis forced them to retreat.

Greek lender Eurobank is looking for a strategic partner to buy a stake in its fully-owned Romanian unit Bancpost as part of moves to reduce its overall exposure in non-Greek assets, sources at the bank told Reuters on Friday.

Bulgaria's Postbank, a subsidiary of the Greek Eurobank, successfully finalized on Tuesday the agreement on the acquisition of the operations of the Bulgarian branch of the Greek Alpha Bank.

With the acquisition, Postbank, legally known as Eurobank Bulgaria, has become the fourth largest bank in Bulgaria in terms of loans and deposits, with assets exceeding BGN 6.3 B.

Bulgaria's Postbank, a subsidiary of Greece's Eurobank Ergasias, has wrapped up the acquisition of the operations of the Bulgarian branch network of Alpha Bank, another Greek lender.

Greece-based Alpha Bank has sold its Bulgarian operations to Eurobank, another (temporarily closed) Greek for an undisclosed sum.
Alpha has 83 branches 744 employees in Bulgaria.
Eurobank’s subsidiary, Postbank Eurobank Bulgaria AD, will assume control. Alpha Bank sold its Ukrainian affiliate to Delta Bank in 2013.