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Societe Generale nearing final steps towards the acquisition of Banka Popullore
Tirana, July 4, 2007 (AENews) – Bank
of Albania is expected to approve the acquisition of Banka Popullore by Societe
Generale in the next coming weeks. Societe Generale has acquired 75% shares for
an undeclared amount from a consortium of local businessmen whom founded the
bank three years ago.
of Albania is expected to approve the acquisition of Banka Popullore by Societe
Generale in the next coming weeks. Societe Generale has acquired 75% shares for
an undeclared amount from a consortium of local businessmen whom founded the
bank three years ago.
Banka
Popullore was founded by 30 Albanian businessmen at March 2004. As of march
2007, its total assets were reported at LEK 30.5 billion, (USD 339 million, EUR
252 million). It operates with a network of 30 branches and agencies, and about
45,000 customers, according to bank officials. Banka Popullore covers about 5% of
the Albanian banking market.
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on Jul 4th, 2007 and filed under Uncategorized.
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