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FINANCIAL NEWS
Qatar’s QNB to buy Greek NBG’s for USD 2.95bn
22 Dec 2015
(MENAFN) Qatar National Bank signed a deal with National Bank of Greece to obtain the latter’s whole 99.81 percent stake in Turkey’s finance bank AS for USD 2.95bn.
In addition, the closing of the deal, which is subject to regulatory approvals and other closing situations, is predicted to be finished in the first half of 2016.
National Bank will use the incomes to pay back USD 2.17bn of aid it received from Greece’s bank rescue fund by issuing contingent convertible bonds (COCOs).
“Finance bank’s sale confirms the commitment made by National Bank’s management to implement the bank’s restructuring plan consistently,” said National Bank.
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25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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