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Eurobank interested in CEC and Egyptian Alexandria Bank

de     HotNews.ro
Miercuri, 12 iulie 2006, 0:00


The EFG Eurobank Ergasias, one of the four bidders for the privatization of Romania’s Saving House (CEC), has shown interest in both the Romanian bank, but also for the Egyptian Alexandria Bank. The Eurobank made a non-binding offer for Bank of Alexandria, according to Forbes.

The Egyptian bank has the potential of generating over 120 million Euros profit in few years, Forbes writes, a performance too high for CEC.

The Greek banking group EFG Eurobank Ergasias plans to expand in the Balkans. According to a Citibank report, the Eurobank is on the rise in Bulgaria, where profits of 25 million Euros are expected, however, the Romanian market is more of a challenge.
Eurobank plans to restructure the Romanian unit in 2006 and make 2007-2008 more profitable.

French-Belgian group Dexia pulled out from submitting a bid for the Romanian Saving House CEC, according to the group’s press release posted on its site on Monday.

The list of potential investors expected to submit bids by July 17 shortened to four regional groups: Raiffeisen, OTP, EFG Eurobank, and the National Bank of Greece.























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