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Greece's Alpha confirms purchase of Citibank's Greek retail ops
June 13, 2014 / 7:22 AM / 3 years ago

Greece's Alpha confirms purchase of Citibank's Greek retail ops

ATHENS, June 13 (Reuters) - Alpha Bank, Greece’s fourth-biggest lender by assets, said on Friday it agreed to acquire Citibank’s retail banking operations in Greece at a price of 2 million euros ($2.72 million).

“Under the agreement, the acquired operations comprise Citi’s wealth management unit with customers’ assets under management of about 2.1 billion euros, out of which deposits of about 1 billion euros, net loans, mainly credit card balances, of 0.4 billion, as well as a retail branch network of 20 units which serves 480,000 clients,” Alpha said.

The statement confirms sources telling Reuters on Thursday that the deal was imminent.

$1 = 0.7345 Euros Reporting by Harry Papachristou

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