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Financials

Greece's National bank says it sold its subsidiaries in Serbia for 125 mln eur

ATHENS, Dec 1 (Reuters) - Greece’s National bank (NBG) said on Friday it sold its Serbian subsidiaries Vojvodjanska Banka AD and NBG Leasing and a portfolio of Serbian-risk corporate loans for 125 million euros.

A bank official said that they were sold to a subsidiary of Hungary’s OTP Bank. The sale is part of a restructuring plan agreed with European regulators.

Like other big Greek banks, NBG, Greece’s second-largest lender, has been slimming down by divesting assets and foreign subsidiaries to focus on banking at home, with proceeds boosting capital ratios and liquidity. (Reporting by Lefteris Papadimas)

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