site.btaPostbank Acquires BNP Paribas Personal Finance Subsidiary in Bulgaria

Postbank will acquire the Bulgarian subsidiary of BNP Paribas Personal Finance under angreement signed this week, the bank said on Friday.

This transaction strengthens Postbank’s position in the Bulgarian retail sector, while it also provides significant opportunities for cross-selling, given BNP Paribas Personal Finance Bulgaria’s clientele.

'I am convinced that this transaction will turn into a real benchmark of success, as we did with the acquisition of the Bulgarian subsidiary of Alpha Bank and Bank Piraeus Bulgaria," said Postbank CEO and Management Board Chair Petia Dimitrova.

The acquisition of BNP Paribas Personal Finance Bulgaria is key to the Eurobank Group's strategy, of which Postbank is part and to expanding its international activities with an investment in significant regional markets and businesses and takes place just days after the group increased its share on the one of the largest retail banks in Cyprus, Hellenic Bank. 

Postbank is the fourth largest bank in Bulgaria in terms of assets and the third largest in terms of loans and deposits. By September 2022,  its loan portfolio exceeded BGN 10 billion, a 14.5% growth year-on-year. 

The planned transaction is subject to the consultation with the relevant employee representative bodies at BNP Paribas Personal Finance. It is expected to be completed during the first semester of 2023 subject to approvals by all competent regulatory authorities.