Alpha Bank A.E. (“Alpha Bank”) and Eurobank Ergasias S.A. (“Eurobank”) hereby announce that, on 1 March 2016, the acquisition of the entirety of Alpha Bank’s Bulgarian Branch (“Branch”) operations by Eurobank’s subsidiary in Bulgaria, Eurobank Bulgaria AD (“Postbank”), pursuant to the provision of the relevant regulatory approvals, was concluded.
The acquisition of the Branch constitutes a step forward for Postbank, as it becomes the fourth biggest Bulgarian bank in terms of deposits and loans and aims to further strengthen its position in the Bulgarian banking sector and to expand its customer base in both the retail and wholesale segments.
Starting from 1 March 2016, Branch originating Customers will continue to enjoy high-quality services through the same service channels and in the near future, during which the operational integration is expected to be completed, they will be able to use the extended Postbank branch network.