The Greek Eurobank EFG has completed the merger of its local subsidiaries DZI Bank and Post Bank into a single entity that will take the fifth place in the local banking ranking by assets. The new entity will be named Eurobank EFG Bulgaria but will be traded by the brand name of Post Bank for several months until the new name gains popularity among local costumers. As of the end of September, the assets of DZI Bank and Post Bank were reported at BGN 1.06bn (EUR 542mn) and BGN 3.5bn (EUR 1.8bn), respectively. Eurobank EFG Bulgaria will be vying for the third place on the local banking market. It already holds the third largest retail banking network in the country with total employees of about 3,000, according to management estimates.
Source: Intellinews-Bulgaria Today