Greece’s National bank says it sold its subsidiaries in Serbia for 125 mln eur

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)