NBG/Finansbank

completed

The proposed project involves IFC acquiring minority equity stake in Finansbank in Turkey (the Bank), in view of National Bank of Greece (NBG) major acquisition of the Bank. NBG was recently selected as the winning bidder to acquire a controlling stake in the Bank. The acquisition of Finansbank by NBG represents a positive development in the economic relations between Turkey and Greece, and one of the largest cross-border investments in the Mediterranean region, further building investor confidence and facilitating cross-border investments in the region. Given Finansbank’s leading position in SME, housing and retail lending, NBG’s acquisition would further strengthen a banking institution that contributes greatly to economic growth and employment in the region. Furthermore, the combination of NBG and Finansbank will result in the largest banking group in the region present in seven countries with a total combined population of 125 million and a customer base of over 11 million, with the ability to support and finance large regional development initiatives.