The Merging of Postbank and DZI Bank Creates a Leading Banking Institution in Bulgaria

The merging process between Postbank and DZI Bank continues at very fast rates and aims to create a leading financial institution in Bulgaria with a network of over 280 branches, which manages over 10% market share, stated the managing body of the two banks.

"Our main goal was to make the united bank one of the top 3 financial groups in Bulgaria in the next three years," said Mr. Anthony Hassiotis, CEO of Postbank and DZI Bank at a meeting, dedicated to the integration process between DZI Bank and Postbank.

According to Mr. Hassiotis, the operational merging of the informational systems of the two banks is expected to end around mid-summer, less than 6 months after the acquisition of DZI Bank, while the legal merging is expected to end around October, 2007.

The two banks are members of the rapidly growing international banking organization Eurobank EFG Group, which is already present in 7 countries in Southeastern and Eastern Europe.

It is expected that the new organization will be named Eurobank EFG Bulgaria A. D., after it meets the approval of the General Meetings of the two banks.