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Albanian central bank clears National Bank of Greece's sale of local unit

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Albanian central bank clears National Bank of Greece's sale of local unit

The supervisory council of the Bank of Albania granted preliminary approval to the sale of National Bank of Greece SA unit Banka NBG Albania sh.a. to local peer American Bank of Investments SA.

When the deal was announced in February, NBG said it is part of its restructuring plan and is in line with its commitments to the European Commission's Directorate-General for Competition. The terms of the deal were not disclosed.

American Bank of Investments was formerly known as Crédit Agricole Albania.