The Greek state will sell ATEbank, where it owns a 77 percent stake, according to the country's Finance Ministry. The state previously said it plans to sell ATEbank Romania.

ATEBank, usually a lender for the agricultural sector in Greece, is under restructuring in order to discharge non-performing loans and non-profitable subsidiaries. Earlier in May, ATEbank Romania received a EUR 24 million loan from its Greek parent bank in order to cover liquidity.

Piraeus Bank, also present in Romania, has already showed interest in taking over ATEbank. ATEbank owns 483 subsidiaries in Greece, 35 in Romania and one in Germany.

In Romania, Piraeus Bank has built a network of 149 units and serves over 300,000 customers.

editor@romania-insider.com