Alpha Bank and EFG Eurobank announced merger

Banks have officially announced that the integration is carried out by the principle of exchange of the shares: five new shares of Alpha Bank for seven shares of Eurobank EFG.

Publication of integration has contributed to growth of prices on the Athens Stock Exchange. In the banking sector as prices rose for nearly 20%, shares of National Bank of Greece, the largest of the Greek lender, jumped 29%.

Athens Stock Exchange, has temporarily stopped trading with shares of Alpha Bank and Eurobank this morning, after the official announcement of the planned merger, and trade termination will continue until the investors do not find out the outcome of the negotiations and terms of the agreement of the two banks.

By the unification of Eurobank and Alpha Bank the largest bank in Greece is generated with assets of 150 billion euros, according to estimates, of which 80 billion in deposits.

In Serbia, Eurobank is the fifth , Alpha Bank is the ninth in the market,in terms of assets.

According to the National Bank of Serbia, Eurobank has assets of slightly more than 164 billion dinars, and assets of Alpha Bank is 94.25 billion.

Eurobank was ranked fifth in the first half of this year in the Serbian market, by gross profit - of1.5 billion. Its market share in Serbia is 6.6%. and has a network of more than 100 branches and eight business centers to work with industry.

Alpha Bank in Serbia in the first half of this year had a loss of a billion dollars.