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Athens News Agency: News in English, 06-07-05
CONTENTS
[01] Bank's rights issue 1.6 times oversubscribed
[01] Bank's rights issue 1.6 times oversubscribed
National Bank, Greece�s largest financial institution, on Wednesday
announced the successful completion of its 3-billion-euro rights issue
to finance the purchase of Turkey�s Finansbank.
The bank said the rights issue was 1.6 times oversubscribed. Details
over the issue will be officially released on Thursday.
National Bank agreed in April to buy 46 percent in Finansbank�s equity
capital. The new group to be created after completion of the deal will
have total assets of 69 billion euros, it would operate a branch
network of 1,059 units -of which 45 percent outside Greece- while
consolidated pre-tax profits would reach 1.3 billion euros (based on
2005 results).
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