Greece Splits Up FBBank
Thursday, 01 January 1970
Greece's FBBank was split into "good" and "bad" parts, as local lender NBG absorbed the bank's healthy operations, the country's central bank said on Saturday, as quoted by Reuters.
FBBank would be wound down as part of a wider restructuring of the banking sector, Reuters reported, quoting bank sources.
FBBank, majority owned by the family of Greek shipowner Victor Restis, operates 19 branches in the country that will be taken over by NBG as of May 13. It reported total assets of 1.6 billion euros ($2.1 billion) in 2011.