Greece’s largest lender Piraeus Bank said that it had completed the sale of a majority stake in its Cyprus subsidiary to Holding M. Sehnaoui SAL for €3.2m, reducing its stake to 17.7%.
The divestment is part of Piraeus Bank’s EU-approved restructuring plan and will boost itscore equity tier-1 capital by about 15 basis points, the bank said.
Source: Cyprus Mail
