NBG

The bank’s decision to close its branches and terminate its presence in Egypt was a result of the unsuccessful attempts to sell NBG Egypt due to the lack of interest.

Despite efforts by National Bank to save face by announcing that the sale price corresponds to a valuation of 505 million euros, in fact, the result is much more unpleasant: 120 million euros of the price is tied to achieving specific goals on selling bank insurance products until 2026.

At 505 million the valuation of 100% of the insurance. A significant part of the price, 120 million euros, is linked to the achievement of specific sale targets of bank insurance products by 2026.

At 505 million the valuation of 100% of the insurance. A significant part of the price, 120 million euros, is linked to the achievement of specific sale targets of bank insurance products by 2026.

With the EU Competition Commission, through a letter from President Margrethe Vestager to the Insurance Workers' Union, indicating that there will be no further extension given to the sales process, everything shows that the sale to CVC is the most likely option.