Greece’s National bank (NBG) said on Friday it sold its Serbian subsidiaries Vojvodjanska Banka AD and NBG Leasing and a portfolio of Serbian-risk corporate loans for 125 million euros.
A bank official said that they were sold to a subsidiary of Hungary’s OTP Bank. The sale is part of a restructuring plan agreed with European regulators.
Like other big Greek banks, NBG, Greece’s second-largest lender, has been slimming down by divesting assets and foreign subsidiaries to focus on banking at home, with proceeds boosting capital ratios and liquidity.
Source: Reuters (Reporting by Lefteris Papadimas)