Replies to post #18646 on National Bank of Greece ADR (fka NBGGY)

[Chriss777]

National Bank of Greece is the parent organization of Banka NBG, a subsidiary bank they use to own in Albania. They sold their entire stake to another bank called American Bank of Investments, also located in Albania.

National Bank of Greece is selling assets as part of a European Union approved restructuring plan. It sold bank operations in South Africa and Bulgaria last year but still has assets in a handful of Balkan nations. The transaction is capital accretive, meaning the sale adds value to the company.