May 17, 2019 / 10:03 AM / 2 months ago

National Bank to start talks with potential investors on insurance business soon-CEO

ATHENS, May 17 (Reuters) - Greece’s second-largest lender National Bank (NBG) will start talking to potential investors for the sale of its wholly-owned insurance subsidiary soon, its chief executive said on Friday.

Presenting the bank’s 2019-2022 strategy, Chief Executive Officer Paul Mylonas said at a news conference that the bank needs to conclude the sale of its insurance arm by 2020.

The bank had put a 75 percent stake in its insurance unit up for sale as part of an EU-approved restructuring plan to focus on core banking operations but two attempts fell through last year. (Reporting by Lefteris Papadimas)

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