December 1, 2017 / 7:32 PM / 10 months ago

Greece's National bank says it sold its subsidiaries in Serbia for 125 million euro

ATHENS (Reuters) - Greece’s National bank (NBG) (NBGr.AT) said on Friday it sold its Serbian subsidiaries Vojvodjanska Banka AD and NBG Leasing and a portfolio of Serbian-risk corporate loans for 125 million euros (110.2 million pounds).

FILE PHOTO - The logo of National Bank is seen outside a branch in Athens March 23, 2015. REUTERS/Alkis Konstantinidis

A bank official said that they were sold to a subsidiary of Hungary’s OTP Bank OTPB.BU. The sale is part of a restructuring plan agreed with European regulators.

Like other big Greek banks, NBG, Greece’s second-largest lender, has been slimming down by divesting assets and foreign subsidiaries to focus on banking at home, with proceeds boosting capital ratios and liquidity.

Reporting by Lefteris Papadimas

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