Eurobank EFG acquires control of DZI Bank in Bulgaria | Eurobank
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Eurobank EFG acquires control of DZI Bank in Bulgaria

Eurobank EFG group acquired control of Bulgarian DZI Bank, as a result of the conclusion of the acquisition of 74.26% of DZI Bank’ s shares through the Sofia Stock Exchange, following an agreement dated September 29 with DZI  Bank shareholders to acquire their participation in the Βank.

Eurobank EFG group has submitted to the Financial Supervision Commission of Bulgaria (FSC) the necessary documentation to proceed with a tender offer for the remaining shares of DZI Bank. Eurobank EFG is already present in Bulgaria through its subsidiary Bulgarian Post Bank with a distribution network of more than 150 branches.Eurobank EFG’s objective is to merge the two entities in the course of 2007, in order to create a leading banking institution, operating a network of 280 branches and commanding an aggregate market share of approximately 10%, in the rapidly growing Bulgarian market.

Eurobank EFG group has had a presence in Bulgaria since 1998 and following the acquisition of DZI, employs today more than 3,000 people and has invested more than 300 million euros in the country.