Greek shipping lender Eurobank has completed the acquisition of Piraeus Bank's Bulgarian unit.
The combination of the bank and Piraeus Bank Bulgaria (PBB) will have a market share in the country of more than 10%, ranking third in terms of total loans.
Stavros Ioannou, Eurobank’s deputy CEO, said: “The acquisition of PBB is a major milestone in implementing our strategy to focus on markets where we can have leading positions.
"We are delighted to welcome PBB clients and staff to our group."
He added: "We are determined to deliver as soon as possible on the full integration of the two banks, which will allow us to best serve our present and future clients, households and businesses, with an enhanced network and a cutting-edge digital offering."
