NBG to Discuss Sale of Turkish Finansbank With Potential Buyers

National Bank of Greece SA will start talks with potential investors about the sale of Turkish unit Finansbank AS, as the lender reorganizes to bolster capital as called for by European regulators.

“NBG clarifies that it will be liaising with potential investors within the context of evaluating alternative strategic options for Finansbank,” Istanbul-based Finansbank said in a public filing on Monday.

NBG has been looking for a buyer for Finansbank and received bids from investors including Qatar National Bank and Fiba Holding, whose billionaire owner Husnu Ozyegin sold the lender to NBG in 2006, people familiar with the matter said on Oct. 1.

NBG, Greece’s largest lender, was required to cut its stake in Finansbank to less than 60 percent from 99.8 percent by the end of the year under the terms of a European bailout agreement. The process was abandoned after the Athens-based bank several times missed its own internal deadlines.

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