01 June, 2006
Bank of Greece Governor Nikos Garganas on Wednesday appeared positive regarding the planned acquisition by Athens-quoted National Bank of Greece of Turkey's Finansbank.
However, he clarified that "these evaluations of his, are based on the evaluations which have been made by four international reliable firms."
Garganas, who briefed Parliament's Finance Committee, assessed that the National Bank of Greece can face the adverse changes from danger factors, noting that simulation has been conducted and from the assessment of data, it arises that the National Bank of Greece will not be significantly burdened.
"Even a heated incident in the Aegean cannot rattle the group of the National Bank after the acquisition of Finansbank," Garganas said.
Regarding the agreed cost of the acquisition, which the opposition deputies describe as very high, the Governor of the Bank of Greece noted that "it is not far from the intermediate assessments of the four international firms which ranged from 4.7 and 6.7 billion dollars."
Source: Athens News Agency