Christos Megalou (Piraeus Bank): We are selling the subsidiaries from Romania, Bulgaria and Serbia

The new general director Piraeus Bank, Christos Megalou, said in an interview to Bloomberg that the lender will be selling its subsidiaries in Romania, Bulgaria and Serbia, reports Business-Review.eu.

Piraeus Bank presented recently the strategic plan “Agenda 2020”, according to which the Balkan units will be sold and the non-performing loans portfolio will be reduced.

Besides the subsidiaries from Balkans, Piraeus also wants to sell the stakes owned in the sea transport company Hellenic Seaways and two fisheries from Greece, Sedona and Nireus.

Until the end of the year, the bank group has to sell NPLs worth EUR 4 billion, according to the reorganizations plans made with European Union.

 

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