Emporiki Bank of Greece S.A. announces that its Board of
Directors approved at its meeting today the transfer of its shares in Emporiki
Bank Romania S.A, Emporiki Bank Bulgaria EAD and Emporiki Bank Albania S.A to
the Group Crédit Agricole S.A. This operation is subject to relevant approval
from the central banks.
This intra-group transaction is the last step of a process
developed since the beginning of 2009 to reinforce links between Crédit
Agricole S.A. and Emporiki Group’s subsidiaries, in line with the international
business growth model of Crédit Agricole. As a result of their progressive
integration in Crédit Agricole S.A. Group during the last three years,
Emporiki’s subsidiaries have already adopted an explicit reference to Crédit
Agricole Group to their risk and compliance procedures, their management
standards, their IT systems, as well as in their own brand.
Furthermore, this transfer will optimize the management of
capital funds in the said subsidiary banks.
With the extensive market knowledge and management experience
that it has acquired in the said countries, Emporiki Bank will continue to
provide, based on the agreement, services, support and coordination to the
subsidiaries to ensure their smooth integration to the Group and the further
development of synergies.
This agreement will also allow Emporiki Bank of Greece to
further rationalize its corporate structure and reinforce its focused efforts
to effectively deal with the current circumstances and challenges.
Christina Dimoudi /
Telephone number: 210 328 2706/