The Board of Directors of EFG Eurobank, in the context of launching the merger process with ErgoBank, approved the appointment of the international accountancy firm PriceWaterhouseCoopers to provide audit services. PriceWaterhouseCoopers will, on behalf of EFG Eurobank, ascertain that the share-exchange ratio involved in the future merger of the two banks is both equitable and reasonable. It should be noted that the international accountancy firm Deloitte & Touche has assumed a similar role for ErgoBank, as decided by the latter’s Board of Directors.
In addition, the EFG Bank Group appointed the international firm Andersen Consulting as advisor for the merger process between the two banks. The advisor’s responsibility will be to analyse and assess the financial, technical and organisational characteristics of the two banks in order to put forward comprehensive proposals for a rapid and effective merger. The proposals to be submitted by Andersen Consulting will aim to exploit synergies, economies of scale, productivity improvements and to reap maximum benefits from the organisational and functional merger of the two banks.
The convergence of the two banks’ operations and activities is currently proceeding with the aim of offering the best possible service to clients. Already under way is the merger of EFG Eurobank’s and ErgoBank’s ATM networks. Following this, the customers of both banks will be able to obtain services, at no additional cost, including information regarding account balances, from a total of 360 ErgoBank and Eurobank ATMs throughout the country.