The National Bank of Greece has acquired Serbias Vojvodjanska Bank of Novi Sad, the countrys seventh biggest bank, for $488 million, media reported Tuesday.
The NBG purchased the Serbian states stake of 99.44 percent and agreed to keep the banks name and its headquarters in Novi Sad, north of Belgrade, Belgrades Beta news agency reported Tuesday. As part of the agreement, NGB promised 50 million dollars of upgrades to the banking system and not to let go any of the employees for the next three years.
DF: The Serbs better start getting used to Greek!
posted on Tuesday, September 12
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