Bank acquisition of Piraeus' Egypt unit complete

Abk said it has signed a deal with Piraeus Bank, one of the largest private lenders in Greece, to acquire 98.5 per cent of its Egyptian unit as part of its regional expansion strategy.


Private Banks Launch Own 'Bad Bank'

Germany's top private banking association has created its own national bank to help rescue or wind down ailing financial firms, Handelsblatt has learned.