Romanian Competition Authorities Clear EFG Eurobank, Alpha Bank Merger

The managing boards of Greek lenders EFG Eurobank and Alpha Bank decided end-August to merge. The merger was then approved by shareholders on November 15.

The operation will create the largest lender in Greece and Southeast Europe. The new structure will be 57.7% owned by Alpha Bank shareholders, while the Eurobank holders own 42.5%.

In Romania, the merger creates the third-largest lender, with an overall asset value of some 30 billion lei (EUR6.9 billion).