The Commission on Protection of Competition allows Eurobank Bulgaria to Acquire Piraeus Bank
The Commission on Protection of Competition has permitted Post Bank, with legal name Eurobank Bulgaria AD, to acquire Piraeus Bank, Bulgaria.
After permission for the deal was given by the Bulgarian National Bank, the financial entity is now the fourth biggest financial institution in terms of assets in Bulgaria.
The 75 million euro deal was negotiated at the end of 2018 and will be completed within the space of one month. The bank’s loan portfolio and its market share in Bulgaria will be in excess of 10 percent, analysts say. In 2015 Eurobank acquired the assets of another financial institution from Greece on the Bulgarian market – Alpha Bank. / BNR