Eurobank Bulgaria (Postbank), the Bulgarian subsidiary of Greece’s Eurobank, has closed the acquisition of Greek lender Alpha Bank’s Bulgarian branch.
The acquisition makes Postbank the fourth largest Bulgarian bank in terms of deposits and loans, with assets of over BGN6.3bn ($3.4bn).
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Eurobank said in a statement that the transaction, announced in July 2015, will strengthen its position in the Bulgarian banking sector and help expand its customer base in 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," Eurobank said.
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