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Greece's Emporiki Bank to pull out of Armenia, Georgia

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  • Greece's Emporiki Bank to pull out of Armenia, Georgia

    AFX European Focus
    January 3, 2005 Monday 09:48 AM Eastern Time

    Greece's Emporiki Bank to pull out of Armenia, Georgia

    ATHENS

    Emporiki Bank, 11 pct owned by Frances Credit Agricole, intends to
    sell its subsidiaries in Armenia and Georgia, a senior bank source
    said.
    The source added this is part of the group's broader
    restructuring process and that Emporiki plans to strengthen its
    presence in south eastern European markets.
    Emporiki also has subsidiaries in Albania, Bulgaria, Romania and
    Cyprus.
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