Hellenic Bank Negotiates Over Piraeus Bank Cyprus Acquirement
Hellenic Bank is discussing the possibility of acquiring Piraeus Bank Cyprus.
Negotiations have been reported to be advancing and have facilitated a due diligence check, according to CNA. Current acquisition efforts for the four branches had been implemented prior to the financial situation in Greece, and are being analyzed by the European Commission Directorate General on Competition. The nation's global creditors are also informed on the latest progressions.
Banking authorities predict that these occurrences would secure the island's banking genre, by establishing a third pillar. Back in March 2013, Cyprus held its own bailout with the IMF and EU to avoid any additional downfalls of its banking system.
Tagged under
Related items
-
Greek, Italian, French, and Cyprus defense ministers meet in Brussels
-
Cyprus: EuroAsia Interconnector project is up and running
-
ECB meets on Cyprus to mull interest rates and inflation
-
US State Dept: Cyprus has the right to develop resources within its EEZ
-
Hercules-2 joint training kicks off in Egypt with Saudi Arabia, UAE, Greece, Cyprus