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AFX European Focus
January 3, 2005 Monday 09:48 AM Eastern Time
Greece's Emporiki Bank to pull out of Armenia, Georgia
ATHENS
Emporiki Bank, 11 pct owned by Frances Credit Agricole, intends to
sell its subsidiaries in Armenia and Georgia, a senior bank source
said.
The source added this is part of the group's broader
restructuring process and that Emporiki plans to strengthen its
presence in south eastern European markets.
Emporiki also has subsidiaries in Albania, Bulgaria, Romania and
Cyprus.
January 3, 2005 Monday 09:48 AM Eastern Time
Greece's Emporiki Bank to pull out of Armenia, Georgia
ATHENS
Emporiki Bank, 11 pct owned by Frances Credit Agricole, intends to
sell its subsidiaries in Armenia and Georgia, a senior bank source
said.
The source added this is part of the group's broader
restructuring process and that Emporiki plans to strengthen its
presence in south eastern European markets.
Emporiki also has subsidiaries in Albania, Bulgaria, Romania and
Cyprus.