Piraeus Bank Of Greece Joins Consortium Bidding For Toprakbank

ISTANBUL, Feb 18 (A.A) - Piraeus Bank of Greece joined the Global-Templeton-Avrasya consortium which is bidding for Toprakbank.
Global Securities company sent on Monday a letter to the Istanbul Stock Exchange (IMKB) and said that the tender documents prepared by the Templeton Strategic Emerging Markets Fund LDC-Avrasya Investment Holding-Global Securities bidding for Toprakbank which was managed by the Savings Deposits Insurance Fund (SDIF) had been submitted to the Banking Regulation and Supervision Agency (BRSA) as of 17:00 local time on February 15.
Recalling that Piraeus Bank of Greece had conveyed its intention to join the consortium on February 15, it said that the consortium was comprised of Templeton Strategic, Piraeus Bank, Avrasya Investment Holding and Global Securities.
Sources said that Piraeus Bank is the third biggest private bank in Greece with total assets of 11.2 billion Euro, and its share in banking market in Greece is 7.6 percent and its share in the Athens Stock Market is 8.6 percent.
Another Greek bank Novabank had earlier purchased SDIF-managed Sitebank.