The National Bank of Greece (NBG), the country's biggest lender, announced plans to sell of parts of its controlling stake in Finansbank. Profits from the sale will be used to boost the capital base of NBG. The bank plans to sell up to 40% of its 94.8% stake claim in Finansbank. NBG was able to raise enough capital through private investors in a share offering held last June. The profits from the offering were used to avoid state control in an agreement made by Athens with international lenders.
NBG is a global banking and financial services company. The National Bank of Greece offers financial products and services for institutional and corporate clients. Founded in 1841 by Swiss banker, Jean-Gabriel Eynard along with Georgios Stavros, NBG initially operated as a commercial bank. NBG has an estimated 600 branches in Greece and over 1200 branches abroad. NBG Branches are mainly located in Egypt, Greece, Macedonia, Bulgaria, Cyprus, Netherlands Turkey, South Africa, Switzerland, Russia, Romania and Serbia.
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