Announced
Piraeus Bank sold Tirana Bank to Komercijalna Banka and Balfin for €57.3m.
Synopsis
Piraeus Bank, a Greek multinational financial services company with its headquarters in Athens, sold its Albanian subsidiary Tirana Bank to Macedonian bank Komercijalna Banka and Albanian investment group Balfin for €57.3m. Balfin will own a majority stake in the company. Balfin and Komercijalna Banka will focus on strengthening Tirana Bank's reputation, allowing the lender to expand its operations in Albania.
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