ΝΒG to take over ΄healthy΄
assets of FBB
Τhe National Bank of Greece is to absorb the
healthy portion of First Business Bank (FBB),
following an offer made to the central bank that
was approved by Greece΄s Fiscal Stability Fund
shortly after midnight on Saturday.
On Monday, FBB΄s network of 19 bank branches
will operate as part of and under the
responsibility of NBG, with all transactions with
customers, deposits and loans being carried out
as normal. According to a Bank of Greece
announcement, NBG΄s offer for the healthy
portions of FBB fully protects the deposits of all
the bank΄s customers and ensures their
continued, unobstructed service, AMNA reported.
FBB΄s licence to operate was revoked and it went
into liquidation after it informed the Bank of
Greece that it could not raise the necessary funds
for recapitalisation.
NBG will take over all the deposits and the
majority of the loans, with the exception of those
that have been declared non-performing. Any
difference between the estimated value of the
assets and the actual value will be covered by
the Fiscal Stablity Fund
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