Marfin Popular profits EUR 50.5m on double sales

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Marfin Popular Bank announced that it will realize a profit of EUR 50.5 mln on the two deals transacted on February 1, 2007 whereby a 7.17% stake held in Hellenic Bank was sold to the Church of Cyprus and a 35% stake in Universal Life Insurance was sold to Aspis controlled MFS Group.

MFP CEO Andreas Vgenopoulos promised during a cocktail reception in Nicosia that “2007 would witness many deals” without elaborating, with analysts expecting Vgenopoulos to chase controlling stakes in Bank of Cyprus and Piraeus Bank but also to look to invest in health, leisure and tourism sectors.